Striker Oil & Gas, Inc. announced that it has identified and is working to high grade a potential new oil prospect to a fourth quarter 2008-first quarter 2009 drilling project adjacent to its current leasehold acreage in the Abbeville Field, Vermillion Parish, Louisiana using its previously acquired 60 square mile 3-D seismic survey. This is the second prospect developed from this shoot with the first being a deeper prospect located in West Abbeville Field with potential reserves of 10-15 BCF of natural gas. Both prospects are in the verification stage and land leases are being checked for availability.
The Abbeville Field is a complexly faulted anticline with approximately 20 different producing horizons ranging in depth from 4,000 to 15,000 feet. With the aid of a modern 3D seismic survey Striker is looking to exploit its current leasehold position and areas within the seismic coverage area for additional drilling opportunities within this known prolific productive area discovered in 1937 by Continental Oil (Conoco-Phillips).
The Abbeville Field has been under continuous development since its discovery with cumulative production to date of 14 million barrels of oil and 159 billion cubic feet of natural gas.
"We are very hopeful that this 3-D seismic data will yield several drillable prospects that will continue to add to the rapid growth that we have had at Striker over the last few years," said Kevan Casey, CEO of Striker.
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