Project Profile
Location: Russian republic of Bashkiria, Russia
Area: 300 square kilometers
License valid: 31 December 2335
In the third quarter of 2009, Shelton Petroleum was awarded an additional license in the Russian republic of Bashkiria. Suyanovskoye comprises 300 square kilometres and is surrounded by oil-producing fields. It lies directly to the west of the company\'s other two license areas, Rustamovskoye and Aysky. The Suyanovskoye license is a combined exploration and production license valid through 31 December 2035. Shelton Petroleum was awarded the license at auction. Bashneft, the leading oil company in Bashkiria, currently produces oil from the neighboring fields Shimskoye, Kungakskoye and Islamovskoye. Around 15 wells were drilled in the license area during the Soviet era, and oil was intercepted in horizons from the geological Carboniferous period. None of the Soviet wells was drilled as far down as the Devonian period, where Shelton Petroleum recently has measured commercial oil flow rates in the neighboring Rustamovskoye block, indicating further potential. With the addition of Suyanovskoye to Shelton Petroleum\'s license portfolio, the company\'s total original license area has increased by factor of ten, resulting in one continuous block of approximately 500 square kilometres.
Operator:
Shelton Petroleum: Operator with 100% interest