On March 1, 2011, Joaquin Basin entered into an Operating Agreement with Solimar Energy, LLC ( “ Solimar ” ) to explore and develop the 4,000 leased acres covering extensions of the Coalinga California oil and gas field in California. The acreage is labeled as the Kreyenhagen Trend acreage is on the nose of a Coalinga anticline. In recent months, Solimar Energy as operator has been active on the Kreyenhagen Trend Prospect. Six wells have been submitted to the State of California for permitting. The permits are still under review by the State of California. Bawden 1-24 - The well that we have a Carried Interest or Farm-in well where we will not have any expenses and we are carried 100%. Target Zone: Temblor Test Vintage 1-17 - Temblor Test Vintage 1-21 - Temblor Test Den Hartog A-1 - Avenal Test Den Hartog A-2 - Avenal Test Den Hartog A-3 - Avenal Test Each Drilling permit requires a Blunt Nose Lizard "study" to be conducted once in the spring and once again in the fall. After the study is finalized the drilling permits can be issued and the drilling process is expected to start. Plans to spud three exploratory wells sometime in 2013-2014. The Blunt Nose Lizard studies are still underway and upon completion the State of California will finalize the review of the proposed drilling permits. 5The Geological study was conducted on only the KreyenhagenRanch.Solimar Energy has chosen not to share any of the information generated by the survey done on the Ranch. As we are not the operator in the Kreyenhagen Trend acreage the Company is dependent on Solimar Energy as it relates to activity in the Trend acreage. Currently it seems that Solimar is focused on the Ranch properties and not the Trend. Company management is keeping communication open with Solimar in an attempt to have their focus to expand and include the Trend acreage development.
DUDE WERE SITTING ON A F'ing GOLD MINE. Clearly GRPR is involved with Solimar! HUGE.
That is from our 7-15-2013 10K.
Oh and just by chance on 7-11-2013 Solimar announces a major pr regarding the Kreyenhagen area.
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