GeoPetrol Acquires Acreage in Swan Hills in Northwestern Alberta
GeoPetro Resources Company
GeoPetro Resources has acquired 4,480 acres (1,493 net) of undeveloped land on a high-impact oil and gas prospect in the Swan Hills-Whitecourt area of northwestern Alberta. The South Whitecourt prospect was initially identified as a result of an airborne survey conducted in 2006 by Energy Exploration Technologies Inc., utilizing NXT's proprietary stress-field detection ("SFD") technology. The prospect is supported with 3-D seismic and the first well will target the oil and gas potential of the Swan Hills and Gilwood formations at a depth of approximately 2,800 meters (9,184 feet). Preliminary site assessment has commenced for the drilling of this high-impact prospect in the first quarter of 2008, subject to surface access and regulatory approval.
The Company also plans to commence the drilling of a high-impact prospect at Goodwin in the Swan Hills-Whitecourt area within the next thirty days, subject to surface access. This prospect was also initially identified utilizing SFD technology and has been geophysically confirmed with 3-D seismic data. The Company will be participating for a 50% working interest on a farm-in basis. The well has been licensed and will be directionally drilled to evaluate the oil and gas potential of the Nordegg and Pekisko formations at a planned depth of 2,100 meters (6,888 feet).
RELATED COMPANIES
Most Popular Articles
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea