Timberlake to Acquire O&G Prospect in Nevada
Timberlake has entered into a Letter of Intent to acquire a huge oil and gas prospect in Nevada. The mineral rights and lease prospect is over 35,000 acres or approximately 58 square miles in size.
Timberlake President Bob Bowersock commented, "Serial transect mapping, together with its proprietary gravity survey and subsurface well investigations were implemented. The commercial aeromagnetic surveys and seismic data delineate a large-relief structural closure with several culminations that extend for a distance of 18 miles north and south and could yield billions of Barrels of Oil Equivalent."
He also added, "Based on these considerations, the prospect offers a better chance of success with high resource potential than a large percentage of the frontier-area types of plays throughout the Great Basin to include lower risk and a considerably high reserve potential."