Project Profile
Value: Undisclosed
Location: Permian basin of West Texas
Area: 6,832 net acres (21,451 gross acres)
The Wolfcamp oil resource play is in the southern portion of the prolific Permian basin of West Texas, USA. In October 2010, Molopo acquired a land position of 16,832 net acres (21,451 gross acres), located in Crockett County, Texas, USA. In August 2011, Molopo acquired a further 3,077 gross acres contiguous with its existing land position. The lease term of the initially acquired acerage is three years with minimal work requirements in the first 12 months. The lease on the second area of land is currently scheduled to expire in November 2011 unless Molopo negotiates an extension or drills two wells on the land prior to 11 November 2011. The land is highly strategic in its location with respect to Molopo\'s existing acreage, and the company is evaluating the most effective way to extend its term.
Operator:
Molopo Energy: Operator with 100% interest