PLEASE SCROLL TO PROSPECT SITE UPDATE TO BEGIN VIEWING
LLANOS LEASE GAS SALES SITE
LLANOS LEASE COMPRESSOR SITE
Barfield #2 Duval Co. Texas
About us: Teal Energy is an operating company exploring in South Texas
in the Frio, Jackson, Yequa, Queen City, and Cretaceous since 1998.
Teal has a large 2-D and 3-D data base and inventory of prospects in Duval
Jim Hogg, and Starr Counties. Full presentations are available at the Teal office
In Houston. Power point summaries are available upon request.
Our prospect generation is supported by:
*John Glenn, Geologist/President.
*Anthony E. Krancer, Exploration Mgr.
Operations supported by:
*Mike Gilstrap, Advisor of Operations, Minority stock holder.
Office supported by:
*Debra Shanks, Office Mgr./Accountant.
Office Location: 800 Bering, Suite 300 Houston, Texas 77057. (New after May 1, 2021)
Office Phone: 713-781-4350. Fax: 713-781-0271
CONTACTS:
johnglenn@tealenergy.com --- mngilstrap@outlook.com
Mobile 281-639-9393 --- Mobile 281-381-4481
* PROSPECT SITE UPDATED 07/26/23 *
FIVE PROSPECTS ARE CURRENTLY AVAILABLE.
ALL PROSPECT COST ESTIMATES WILL NEED TO BE UPDATED TO REFLECT CURRENT ECONOMICS
* BARFIELD AND COMANCHE PROSPECTS HAVE BEEN FUNDED *
WORKOVER AND DRILLING OPERATIONS: BEGINNING LATE THIRD QUARTER BARRING ANY DELAYS.
*THE WEBB CO. LOBO STEPOUT PROSPECT IS WITHIN THE MARIA H. llANOS FIELD
LOCATED ON THE LOCATION MAP AS KATHLEEN MARIE #2*
ALL PROSPECTS HAVE GEOLOGICAL AND SEISMIC INTERPRETATIONS AVAILABLE
*LOCATION MAP*
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* ARGONAUT PROSPECT *
-LOW RISK-
THESE ARE ESTIMATED COSTS
Heading 1
*BIG FOOT PROSPECT*
THE CURRENT ESTIMATED TOTAL TO BE REVISED TO +/- $30 MILLION
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*LONESTAR NEW DRILL*
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*MARIA H. LLANOS Kathleen Marie #2 LOBO STEP OUT PROSPECT*
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*STEAMBOAT PROSPECT*
-NORMAL PRESSURE TO 8200'-
PROSPECT: Steamboat:Jim Hogg County No pipe Queen City 4 MMBO 50 BCF
PROPOSED TOTAL DEPTH: 8200 feet Queen City or 12,900 feet Wilcox Hinnant
PRIMARY OBJECTIVE: Queen City Sands, “no pipe”, and Wilcox Hinnant
POTENTIAL RESERVES: 4 MMBO + 50 BCF QUEEN CITY
(192,000 BO/well for Queen City-2,000 acres);
50-10 BCF WILCOX (5-10 BCF/well-900-1200 acres)
EXPECTED INITIAL FLOW RATE: Queen City 100-200 BOPD & 2-3 MMCFD and
Wilcox 10 MMCFD with frac.
DHC ESTIMATED: $ 741,000 QC (no pipe) and $4,000,000 Wilcox
COMPLETION: $660,000 QC and 1 MM Wilcox.
ACRES UNDER CLOSURE: Approximately 2,000+ acres Queen City;
900-1200 acres Wilcox.
AVERAGE NET REVENUE INTEREST and BURDENS (8/8): NRI shall be 100% of
leased interest less the Mineral Owners’ royalty and the Teal Group’s 3%. Most likely 72%
(if mineral owners royalty is 75%).
TERMS: Pay lease, legal and brokerage costs; pay a prospect fee of $50,000 to Teal Energy;
and pay about $100,000 with field tapes for 73 for miles of seismic (license goes to Operator).
Carry Teal 5% to the tanks on the first well, and Teal has a 5% BIAPO on the second well.
Teal has a well by well option to join for a 5% ground floor working interest.
WORKING INTEREST AVAILABLE: 50-100%.
GEOLOGY AND GEOPHYSICS:
The Steamboat prospect is a seismically defined crest ally faulted rollover structure lying east of the main Wilcox flexure. It is comprised a Queen City and a Wilcox Hinnant and Cook Mountain objectives which should be tested with separate wells. An antithetic fault forms a trap for a Wilcox gas accumulation discovered and tested in the mid-1980’s. This well tested 3.5 MMCFD without fracture stimulation from a Wilcox Hinnant sand below 12,000 feet. Seismic interpretation indicates the trapping fault for the Wilcox gas accumulation migrates east of the Wilcox location and should form a similar antithetic trap in a section of well-developed Queen City and Cook Mountain sands. There is greater than 60 feet of sand with >15% porosity in the off-structure Sante-Fe Helen No 1 giving upside of three BCF and 100,000-300,000 BO/ crestal wells. The Wilcox Hinnant sands have a blocky log character and may be a turbidite feeder channel facies, similar the prolific Travis Ward Field sands.
Additional 2-D or a 3-D seismic survey should be acquired over an area covering approximately 20-30 square miles to adequately image the deep structure before drilling new Wilcox tests (The existing Western shoot could be extended by about 15 squares as an alternative). Two million is a good estimate for the cost of a 3-D survey.
THESE ARE ESTIMATED COSTS