Project Profile
(Additional Researched Project Information)
Value: Undisclosed
Location: Illinois Basin, Illinois, USA
Area: approximately 23,000 net acres
Reserves: 12,837,000 barrels of oil
Depth: 1200 to 1600 metres
Start-up Year: 2014
The Copper Mountain Oil Project is prospective for conventional and unconventional light oil accumulations in shallow Mississippian age formations (from 700 metres depth) as well as the deeper Devonian age formations (~1200 to 1600 metres depth). In March 2014, Strata-X acquired, from a third party, a 100% net working interest in oil and gas exploration rights on approximately 23,000 net acres covering the Copper Mountain Oil Projects in the Illinois Basin, USA. The acreage position that Strata-X Energy, who is the sole operator of the project, has assembled is located within a 20 mile radius of oil fields that have produced over 1.5 billion barrels of oil from a multitude of producing formations. Most of these formations are prospective under the Company’s acreage. Petroleum Engineering Ltd, the Company\'s third party engineering evaluator, has issued a Prospective Resource report for the Copper Mountain Oil Project. The Report provides a Best Estimate Prospective Resource, net to the Company\'s interest, in the Project of 12,837,000 barrels of oil.
Operators:
Strata-X Energy: Operator with 100% interest