06 Sep Sold – 11/2/22 – KS 3 Well Lease Development Program – Phase II – ID 1222 – stay tuned for Phase III
2400 acre lease in Central KS
Operator to drill 3 offset vertical wells to complete in the Marmaton – estimated reserves of 75MBO per well
2 Secondary payzones estimated 35-100MBO per well in reserves
Operator has successfully completed well on acreage. Produced over 40 BOPD in last 3 days.
Estimated payout under 8 months upon successful completion of all wells @ $85 oil
Estimated 2:1 payout in 3 years for single payzones
$35k per 1%WI @ 80%NRI. First right of refusal on subsequent development on leasehold. 30% WI available.