Petrichor Energy (V.PTP) plans intensive drilling program at Marble Falls
Joe DeVries has over 20 years of experience in financing and managing publicly traded companies, after sharing the equity value of shareholders with development capital, restructuring and reactivating TSX Venture Tier 2 oil and gas issuers, including Altima Resources Ltd. and TransAmerican Energy Inc., has created.
Today, as CEO and Director of Petrichor Energy, he leads an impressive portfolio company, a streamlined stock structure and joint venture partners who understand the nature of the properties.
The Marble Falls property is so promising that it added DeVries to the company's portfolio.
Can you tell us something about Petrichor Energy and its genesis?
Petrichor Energy (TSX: V.PTP, Stock Forum) is an emerging oil and gas exploration company focused on acquiring, exploring and developing new oil reserves in North and South America, using the latest geophysical and geological technologies served. Petrichor Energy was formed as part of the restructuring of Odyssey Petroleum to focus on the acquisition of oil and gas assets in Texas.
You recently acquired a Marble Falls property at Fort Worth Basin, Texas. Why did you choose Marble Falls? What possibilities are there?
Marble Falls has been selected as a prospective concession because of its location above the Texas Barnett Shale and its profile. The exploration area includes 12.000 Acres of oil-rich limestone resources from the Pennsylvania era. There is potential for 100 locations with multi-zone targets accessible through vertical and horizontal drilling techniques. The limestone from the Pennsylvania era is a liquid-containing, porous, limestone formation from the Mississippian era, located below the Barnett shale, forming veins that reach a depth of over 5.000 feet at depths less than 400 feet. These resource areas offer the potential for large deposits of massive hydrocarbon deposits within shallow basins and sometimes produce over 400.000 BO per well. Limestone areas have produced vertical wells through 75.000 BO, with considerable potential for horizontal wells to penetrate more reservoirs and increase exponential production capabilities. There is also the opportunity to explore well-known fields that have the potential to complete all multi-zone wells, including creating reserves through drilling, while taking advantage of more sophisticated fracking technologies.
Can you tell us more about the Marble Falls project and its stage?
Petrichor recently acquired additional land in the Marble Falls prospect with a total 66,66% workload (two-thirds of 12.000 Acres) and will drill its first exploration hole this quarter.
What do you think will be possible with this project over time?
We believe we can increase shareholder value through the strategic development of proven, long-lived reserves in the soil.
What challenges do you have to master in the current market?
The continued availability of capital to develop the property and drill holes could be challenging in the current market.
What can you say about your management team and its ability to lead the Marble Falls project?
Our management team is made up of experienced people who have considerable expertise in this area, including different regions of North America. Together our team has an experience of over 100 years in the successful development of fields.
Why should you think about investing in Petrichor Energy?
Our company has a tight capital structure with incredible potential. We are able to develop and build low-risk, high-ROI properties in proven areas that enable long-lived production and reserves, increasing shareholder value.
Marble Falls is a world class oil and gas asset in the Fort Worth Basin and has significant potential, which has not escaped even large companies. In the Barnett shale, 2005 achieved a success rate of 2007 percent in the completion of holes between 100 and XNUMX. With operational partners, successful test wells from Petrichor can be rapidly brought into production. Petrichor is the ultimate microcap opportunity.
What are your goals for the rest of the year 2013 and beginning 2014?
Our primary objectives are to drill the first three test closure holes at Marble Falls (beginning in the first quarter) and commence production. At the same time, in the last three quarters of 2014, we will continue to conduct intensive drill hole closures.
Contact:
Investor Relations:
Tel: 604-336-8615
Fax: 604-718-2808
Petrichor Energy Inc.
Box 4
Suite 303 - 595 Howe Street
Vancouver BC Canada V6C 2T5
Tel: 604.336.8615
Fax: +604.718.2808
ppgad@pucrs.br
www.petrichorenergy.com
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(Source: IRW-Press.com.)
