Prospects
Amberjack Prospect
The Amberjack 3-D Prospect is an amplitude supported, 10500’, normal pressured, drilling venture located in inland waters of Plaquemines Parish, Louisiana. The project targets multiple Middle Miocene (Tex-W, Big-H) sands on a well defined structural closure. This test is surrounded by quality, mature, fields which define the prolific nature of the objective section. Reserve potential for the prospect is 10.7 BCFE, with an expected flow rate of 5-8 MMCF/D.
The Amberjack Prospect is an opportunity to test a amplitude of exceptional quality on a tightly controlled and well defined up-thrown structural closure. Nearby well control provides very positive sand control and geophysical calibration which significantly reduces risk. The prospect sits in a fairway outstanding production from numerous fields which provide excellent production and geophysical analogies.
Caviar Prospect
The Caviar 3-D Package is a multi-well, amplitude supported exploration project located in the shallow inland waters of Plaquemines Parish, Louisiana. The four 3-D prospects, which are located within 5 miles of each other, are normal pressured, Middle Miocene (Cib-Carst, Tex-W) tests with objectives between 9,000’ and 11,000’. Numerous prolific fields in the immediate area, such as Pointe a la Hache (175 BCF and 15 MMBO), Delacroix Island (230 BCF and 24 MMBO), and Black Bay (169 BCF and 164 MMBO) produce from this sand section. Reserve potential for the entire project is 4.7 MMBOE.
The Caviar 3-D project is an opportunity to drill four well defined structural closures with multiple amplitude anomalies in an established prolific trend. The amplitude anomalies have the characteristics necessary to classify them as exceptional including high amplitude, structural fit, regional productive analogs and AVO. Each prospect has multiple regionally consistent sandstone objectives which combine to provide significant reserve upside.
Lake Campo Prospect
The Lake Campo Field Prospect is an amplitude supported, 3-D development project located 23 miles Southeast of New Orleans, Louisiana in the shallow inland waters of Plaquemines Parish. This 10,100’ normal pressured Middle Miocene (Tex-W) age test involves further development of Lake Campo Field which has to date produced 25 BCFE. The 3-D seismic indicates the top of this productive structure has not been tested in ten sands between 8400’ and 9800’. Three of these sands are established producers with water drive support and can be considered low risk objectives. Three of the remaining six objectives have associated amplitude anomalies.
The Lake Campo Field prospect is an opportunity to use recent 3-D seismic technology to further develop a water drive gas field developed in the early 1960’s that has to date produced 25 BCFE. This low risk prospect targets ten high quality, regionally consistent Miocene age sand objectives of which three are attic gas objectives, three are amplitude anomaly objectives, and four are structural objectives. The abundant well control provides the positive sand story and it combined with the 3-D seismic clearly defines the structural picture and the location of the critical trapping fault.
Pembina Nisku Reef Prospect
In September 2006, Universal Energy Corp. acquired the Pembina Nisku Reef project from 1097885 AB. Ltd. situated in the Pembina oil field in an area that is concentrated with Nisku Pinnacle Reef occurrence. The company will earn a 95% working interest in these leased lands by drilling a test well to the base of the Nisku formation, subject to a convertible 15.0% GORR. They are currently reviewing 3-D seismic and performing telluric data testing on this project. The allowable 160 acre spacing does permit for up to three wells to be drilled on these lands.
EAST OMG Prospect
Yuma’s East OMG 3D prospect is located in Cameron Parish, Louisiana. This prospect is adjacent to but separated by one large fault from the 500+BCFE Chalkley Miogyp field, which produces from the same Upper Miogyp sandstones that are the main objective of the East OMG Prospect. Yuma’s proposed, slightly deviated, 16,500’ (TVD) well will not only test the Upper Miogyp, but also an AVO supported Camerina structure 400’ high to logged pay on water in a flank well, and a shallower Marg Howei structure that appears to have been proven productive by a well that logged and tested pay, but had completion problems. These shallower Camerina and Marg Howei objectives represent viable, arguably PUD drilling objectives that greatly reduce the risk associated with the prospect. The combined reserve potential of the four principal objective sandstones that comprise the East OMG prospect is estimated to be greater than 59 BCFE.
In generating the East OMG prospect, Yuma utilized approximately 200 square miles of 2003 vintage reprocessed 3D Pre-Stack Time Migrated seismic data, that was then reprocessed in 2006 by Yuma (using Tricon) to create a proprietary PSTM volume. This reprocessed data has greatly improved the structural resolution of the prospect and also allowed for AVO evaluation of the Camerina objective. Yuma has secured all of the acreage necessary to control this prospect. Participants will have access to 12 square miles of this data to evaluate this relatively low risk, yet large up side, opportunity of Yuma’s offices.
Yuma has a history of exploration in this area and in September 2005 made a discovery on its “OMG” prospect, approximately 1.5 miles northwest of the proposed East OMG drill site; this well is currently producing out of the Lower Miogyp.
Lone Oak Prospect
Universal Energy announced, in mid-September, that the Company has entered into a participation agreement for a major oil and gas prospect in Texas.
The prospect, known as Lone Oak, is a 3-D drill ready prospect with enormous potential. With this agreement, the company has acquired a 12.5 percent interest before casing point of this prospect with total potential reserves exceeding 136 billion cubic feet equivalent ("BCFE").
The 3,526 acre Lone Oak Prospect is located in the prolific Frio-Vicksburg trend of Chambers and Galveston Counties, Texas. This area (Houston Salt Basin) is where over 4 trillion cubic feet of gas and 4 billion barrels of oil have been produced since 1900. Lone Oak is nine miles northeast of Eagle Bay Field which has produced over 110 billion cubic feet of gas and 10 million barrels of condensate from the Vicksburg sandstone reservoirs. The multiple objectives of Lone Oak are the same Vicksburg sandstone reservoirs produced at Eagle Bay Field as well as other fields within the trend.
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