Future prospects
Burleson’s main 3D area is the Colorado County 3D (CC3D) project area will continue to provide exploration targets.
In addition, Burleson has kicked off the “1K3D” project in which we have 38% of a right to secure another 1000 sq miles of 3D seismic from a large seismic data base. The value of this amount of 3D seismic (or equivalent 2D seismic) to Burleson is estimated to be ~$4 million. This seismic project, along with the CC3D project, will provide Burleson with numerous new wildcat drilling targets with a range of reservoirs. A significant amount of geotechnical work and leasing is required before we will be in a position to drill any prospects generated by this project. Some prospects have already been generated by this project.