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Tuesday, April 19, 2011 12:35:10 PM
Since its inception, Navitas Land and Mineral has acquired three significant leases, as well as optioned additional leases, all in the Illinois Basin. The Illinois Basin is an interior Cratonic basin covering central and southern Illinois, southwestern Indiana, and western Kentucky. Current estimates for future recoverable reserves in the basin are 4.1 billion barrels, and historical development has made discovery of these reserves much easier. The company has current leases in the basin and is in the process of selecting others, which would give Navitas an additional potential 3.7 million barrels of producible reserves.
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