Project Profile
Location: Lea County, New Mexico
Size: 37.7 square miles (approximately 24,000 acres)
The Sombrero project is covered by a 3D seismic survey and will primarily target the Wolfcamp/Cisco formations with additional potential from the Queen, Grayburg, Paddock, Atoka and Morrow formations. The first well at the project will test the Cisco and Wolfcamp formations at approximately 11,200 feet. Typical completed wells in the area range from 50,000 Barrels of oil (MBO) to over 1,000,000 million Barrels of oil (MMBO). Average gross reserves per well in the area are 337 MBO.
Operator:
CML Exploration LLC: Operator (Undisclosed share of prospect)
Caza Oil and Gas: 20% farm out agreement
iSignthis (Otis Energy Limited): 5% interest