Initial Exploration WellThe initial target in the Cook Inlet Project was identified by GeoPetro after the Company reprocessed certain 2-D seismic data which it acquired from AMOCO on the Point MacKenzie Block. GeoPetro has identified a sizeable initial target with an estimated resource potential of up to one trillion cubic feet of natural gas. The prospect covers approximately eighteen (18) sections (11,500 acres) under structural closure, and the LEA #1 well will target conventional gas in the Middle and Lower Tyonek Formations as well as the Hemlock Formation. A striking feature of this prospect is the presence of a DHI overlying the target formations that is visible on the seismic data. A DHI is a seismic anomaly that is indicative of a natural gas accumulation. The North Cook Inlet and Beluga River Gas Fields, both located approximately forty (40) miles southwest of the Point MacKenzie Block, are estimated to have had original ultimate recoverable reserves of 2.3 and 1.2 trillion cubic feet of gas, respectively, before substantial production commenced in the 1970s.
GeoPetro Resources Company Provides Update On The Cook Inlet Project In Alaska
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