Welcome to Burleson Energy Limited
Overview
- Company listed May 2006.
- Teamed with AKG Energy, L.P.; owned and run by the Kugler family of Austin, Texas; major shareholders of BUR with two Board seats.
- Interests in oil and gas leases covering approximately 25,000 acres in Colorado and Wharton Counties, onshore Texas.
New Project and Focus Area
- New 3D seismic project area in Colorado County Texas - 119 sq miles.
- BUR 38% Working Interest.
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Two additioanl large Wilcox reservoirs prospects secured (BUR 36% to 38.5%).
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Multiple targets in conventional reservoirs - range of depths, target sizes, and risk/reward profiles.
- Deeper reservoirs (Wilcox, Edwards and Sligo) include large to very large targets.
- Potential company makers with multi 100 Bcf potential.
- Project area on trend with 600 Bcf Word Field and has analogous targets
- Drilling to commenced February 2010
- First Shallow well (Yegua reservoir) a sucessful gas well
- Subsequent wells to mostly target Wilcox sand reservoir
- Potential for >100 Bcf plus condensate
- April 2010, first Wilcox well, Heinschel 1 - gas and condensate shows while drilling, awaiting testing
- May 2010, second well on large Moeller propect - drilling
- Option to drill third Wilcox well with current rig
- Deep well penetrate Edwards and Sligo reefal reservoirs planned for 2H 2010
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550 Bcf potential in the 2 reservoirs
Historic Focus
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Initial focus was on Giddings Field (fractured Austin Chalk) horizontal wells.
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5 Chalk wells drilled - all brought on production (gas and condensate).
- BUR working interest 17.5% - 40 %.
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- BUR retains overriding royalty intersts in 6,700 acres of Austin Chalk leases.