Eldorado Exploration reported that the Company has leased or has lease options on over 60,000 acres in New Mexico, Texas, North Dakota, and Illinois. The potential reserves were all identified using the Company's passive induced polarization (PIP) technology.
David T. (Tom) Laurance, President and CEO of Eldorado Exploration, Inc. stated, "We expect to be highly successful because of the quality of the prospects that will be drilled. The potential can't be measured in the usual manner because the future fields have already been surveyed and all that is left is to drill."
Eldorado Exploration, Inc. uses a technological process called passive induced polarization (PIP) which greatly enhances the odds of finding commercial quantities of Oil and Gas. The process helps eliminate geological prospects that will be dry holes. Strong signals indicate commercial potential of discovering oil and / or gas. No signal or weak readings indicate low probability for a successful find. The cost of evaluating prospects is a small fraction of 3-D Seismic and takes much less time. 'PIP' technology takes days instead of months or years for 3-D Seismic.
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