(MENAFN- ProactiveInvestors)
() has secured leases over the Yellowfin Project in Assumption Parish Louisiana that has received substantial interest from larger companies.
Yellowfin is a significantly large feature of similar size to the adjacent Freeport McMoran’s (NYSE:FCX) Highlander Jeanerette-1 Discovery.
The Freeport McMoran well was recently tested with expanded facilities at 75 million cubic feet of gas per day and nearing finalised facilities prior to sales.
Both Yellowfin and Freeport’ well are characterised by and analogous to the sub-salt compressional structural style and sand depositional setting as the ultra-deep offshore deep water sub-salt play and discoveries being developed by the major oil companies.
GGE has estimated Yellowfin to host 1.4 trillion cubic feet of gas assuming an average of 2000ft relief over 5200 acres.
The location offers significant cost reduction and surface infrastructure to facilitate bringing the project to market.
With success the project offers long life reserves high rate deliverability and significant oil and natural gas liquid potential to provide substantial impact on the company.
The prospect is currently being marketed to industry and will likely be operated by a large US Gulf of Mexico oil and gas Company.
It was developed in house using the company’s proprietary 52 square mile 3D seismic survey.
Developing story...
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