Hoped support layer found; Vertical hole completed successfully; Analysis of the log-in data soon Stuttgart, 24.05.2011. In less than two weeks, and thus much earlier than planned, the specialists of the energy capital invest completed successfully the first vertical hole in Leon County. In about 8,000 feet deep (2,500 m) the energy capital invest has encountered this with Leon 1 same oil conveying layer, which currently gives wells in the vicinity of up to 600 barrels of oil / day, as well as reservoirs of up to 500,000 barrels of oil exploration results. The 1.5-kilometer horizontal drilling, which is then blown up along the entire length was also already started. As a completely new procedure applied for the hole where already during drilling, additional information is gathered, now independent experts can evaluate the log-in data in just a few days and so very timely detailed statements to the Leon 1. They now proven oil conveying layer shows that we have properly located with the decision for Leon County”, ECI’s Managing Director Kay Rieck explains. Wells surrounding due to the results of the exploration is also very likely that the energy capital invest will achieve significantly higher support revenue with Leon 1, than originally assumed in the calculation of the Fund it. Furthermore, the safety potential of US oil and gas Fund X KG has risen with the now proven support layer.
Because the expected exploration results and commodity pools will promptly multiply the value of the mineral extraction rights free of charge provided by the initiator. The rapid development is mainly against the background of the current oil prices benefit. Experts assume that the current oil price of about $100 and more per barrel will remain longer term oil of Brent. Once again the management of energy capital invest has his sense of attractive development areas demonstrated exceptional potential. For Leon County, a region some 80 kilometers south of Houston, currently is certainly true as the Erdolhotspot in the region. Already at a very early stage it could secure mineral extraction rights with an area of more than 17,000 acres (about 70 sq. km) and that too very attractive prices. Although the management recently decided to increase the initial participation amounting to 20 million euro, a stake in the US should be only a short time possible oil and gas Fund X KG due to the continued high positioning speed.
