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Replies to post #16293 on BrewBilt Brewing Co (BRBL)
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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.
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The 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.
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SELH (Solimar 100%, Operator)
Location: Central San Joaquin Basin on the south east plunge of the giant Lost Hills field anticline.
Description:
Area: 4,000 acres (gross)
Technical:
Shallow (2,000 to 4,000 ft), Pliocene gas accumulation on the plunge of the Lost Hills regional anticline. Gas dry and possibly biogenic. Mainly contained in thin (<25 ft), fine grained silty sands with strong stratigraphic control of the trap indicated.
Solimar has a +5 mmcfd capacity gas plant on site connected by Solimar owned pipeline to a gas export trunkline. A gas sales agreement is in place with a large gas producing company.
Gas previously production tested by SGY from the Jack Hamar 3-13 (two zones) and Jack Hamar 2-13 wells that were drilled by a prior operator and re-entered and tested by Solimar. The 3-13 well produced gas over a 6 month period at an average of 300 mcfpd.
Solimar owns 4 suspended well bores (2-13, 3-13, 4-13 and 1-24).
Target resource 40 bcf recoverable gas. Upside 100 bcf.
Forward Plan:
Complete testing program of the re-entered the 1-24 well and drill new appraisal well.
AI
