PROJECTS: EAGLE OIL POOL DEVELOPMENT, CALIFORNIA USA (EME Working Interest 57.21%)
Above: Location of Eagle Oil Pool Development Project
The Eagle Oil Pool Development Project is located in the San Joaquin Basin, southern California. It is a proven oil and gas province and has produced in excess of 12 billion barrels and 11 trillion cubic feet of gas. The project area covers approximately 4300 acres.
The primary target is the Gatchell Sand Member of the Eocene Lodo Formation. It is estimated that the Eagle Oil pool has mean (P50) recoverable reserves of 7.1 million barrels of oil and 12.3 billion cubic feet of gas.
In addition to the Gatchell Sands, Empyrean Energy believes that the shallower Monterey Shale is also a valid and promising target.
Empyrean Energy Plc increased its interest from 38.5 % to 48.5% when original operator, ASX-listed Victoria Petroleum NL, was replaced by the American company, R&M Oil & Gas in 2009. Subsequently, Strata-X, Inc has become operator of the project. As announced on 25 March 2013, Empyrean Energy Plc further increased its interest to 57.2126% as a result of a previous partner deciding to surrender its interest.
The Eagle North -1 well drilled in 2006 encountered oil but was abandoned due to technical problems. The results of a drilling programme at present underway in adjacent acreage could influence future seismic configuration if the expected geological objectives in addition to the Gatchell Sand Member are encountered .
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