Czech Republic Resouces announced it's reviewing leases for drilling with its Joint-Venture Partners.
According to the company, it is reviewing multiple leases for a joint venture program in the Texas region together with Jedi Energy Partners. The company's Oil program experts are determining the most valuable drilling locations. The company has enhanced georadiometric surveys of more than 700 acres of land have been examined thoroughly.
Computer-optimized georadiometric evaluations of multiple leases are stating significant crude oil reserves and have determined consistent hydrocarbon anomalies, significant hydrocarbon reserves and potential drilling locations. Furthermore, additional acreage to be leased has been identified near the examined areas for further evaluation. Czech Republic will continue to evaluate the locations and continue working on the drilling program preparations.
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