Investment Opportunities

The “Bubba Bear” Prospect, Jeanerette Field (Jeanerette Salt Dome), St Mary Parish, Louisiana

The proposed 2800’ well will recover oil reserves higher on structure above a 1954 vintage well completion in the center of prolific Jeanerette Field (Cum 45 MMBO + 450 BCF).  That completion produced ~48 MBO from 30’ of oil on water within a 50’ clean sand.  Inhouse 3D seismic data shot forty years later displays a prominent seismic amplitude anomaly updip to the depleted oil completion, and indicates 140,000 barrels of oil remaining undrained.

OBJECTIVE

2700’ Sand

TIMING

Q3/2023

ESTIMATED RATE

75 BOPD

PROJECT OPERATOR

Shelf Energy LLC

ADDITIONAL DETAILS

Well Depth - 2,800’ MD/TVD
Trap – Stratigraphic
Surface Terrain – Abandoned sugar cane field
Road access – Yes
SWD Well – Multiple options

Lavoi No. 1 Re-Drill Opportunity, South Bell City Field, Calcasieu Parish, Louisiana

Re-Drill of the Lavoi No. 1 Well that produced 359,000 Barrels of Oil and 326 Million Cubic Feet of Gas.
Lost Well in a Workover a couple months ago (holes in casing and stuck jet pump).
Well went off production producing+/- 65 to 75 BOPD and+/- 72 MCFGPD.

Main Objectives

Camerina 1 Sand (10,800 Foot Sand).

Estimated Rates

100 BOPD; 108 MCFGPD.

Timing

End of June, 2023.

Reserves:

157,000 to 286,000 Barrels of Oil; 128 to 233 Million Cubic Feet of Gas.

PROJECT OPERATOR:

Shelf Energy, LLC

Working Interest:

Sold 50%
Available 50%

AFE COST:

Drilling: $1,556,350
Completion: 920,000

Total AFE Costs: $2,476,350

Production Equipment, Gas-Tie In and Lavoi No. 1 available for SWD Conversion. Quick turn to Production.

DEAL TERMS:

Ground Floor Drilling;+/- 74% NRI Delivered; $300,000 (reimbursement for leases, equipment, etc.).

$18,563.50 (per 1% Working Interest; Dry Hole Cost)

$9,200.00 (per 1% Working Interest; Completion Cost)

$27,763.50 (per 1% Working Interest; Drill and Complete).