Zeppelin Energy to Acquire Alberta Shallow Gas Properties

Zeppelin Energy has entered into a Letter of Intent to farm into shallow oil and gas interests in an area of west central Alberta, Canada covering approximately 2320 acres. This acreage has been penetrated by multiple wells which contain log indications that unrecovered gas reserves may exist. Zeppelin proposes to complete due diligence evaluations as well as further geological and engineering studies on the subject interests before completing this transaction.

The acreage which is subject to the Letter of Intent contains potential gas bearing zones in the Belly River and Paskapoo formations. These formations have proven to be productive within two miles of the acreage potentially to be acquired by Zeppelin and occur at depths of less than 4400 ft. Previous and current oil and gas operations in the region have established a comprehensive grid of pipelines and hydrocarbon handling facilities within a mile of the project area.

The potential acquisition relating to the Letter of Intent is part of the ongoing strategy of Zeppelin to establish a firm cash flow base to support the proposed growth of the company in Western Canada and Latin America.

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours