Founding Partners

PROSPECTS

Home Personnel Prospects Contact Us

 

 

PROSPECT:

Belle Isle Southeast A Prospect

 

St. Mary Parish, LA

 

 

OBJECTIVE:

Cris I 20 Sand

 

Cris I K-1 Sand

 

Cib op UL-3 Sand

 

 

POTENTIAL:

 

 

 

 

 

 

 

 

 

PTD:

15254'MD  14760' TVD

 

 

ESTIMATED WELL COSTS:

$4 MM

 

 

PROSPECT DESCRIPTION:

The prospect is a trap formed by the intersection of two south dipping faults on a paleo thin off the southeast flank of Belle Isle Field.  Four Cris I and Cib op field pays are the objectives with the 20 sand and the UL-3 sand being the primary objectives.  The 20 sand produced 270,000 bbls of oil from the Apache #42 in the same major fault block across the syncline from the proposed well.

 

 

SEISMIC:

The 3D is the 2003/2004 SEI Bayou Sale/Belle Isle survey.

 

 

TRADE:

Farmout to 3rd Party

 

LaBay proposes the terms set forth below to farmout its interest as to the Sublease in the Belle Isle Southeast A prospect.  The sublease is 100% owned by LaBay Exploration Co.  The Sublease comprises approximately 350 acres of SL 340 having a net revenue interest of 71.8334% BPO and 70.8344% APO.  LaBay will be entitled to a $150,000 prospect fee.   Farmee will earn an assignment of the sublease as to the unit established for each formation deemed capable of producing in payable quantities. At such time as payout occurs, Farmors will have the election to receive a reassignment of 25% interest in the Sublease or a 5%ORR as to the sublease.

Belle Isle Field

These terms are to be used for discussion purposes and under no circumstances should it be considered as an offer or in any way binding the parties referred to above.

 

WEST COTE BLANCHE BAY

 

 

PROSPECT:

East Flank “C” Prospect

 

St. Mary Parish, LA

 

 

OBJECTIVE:

Big. “B”  6200’ Sand

 

Cib. carst 7100’ Sand

 

7400’ Sand

 

Tex. “W” #6 Sand

 

 

POTENTIAL:

6200’ Sd      1,330 MBO               

 

7100’ Sd         946 MBO

 

7400’ Sd      1,155 MBO

 

#6 (50%)    1,344 MBO

                                                                                                                                                                                       

 

Well Total     4,774 MBO

 

 

PTD:

10460’ MD (8000’ TVD)

 

 

ESTIMATED WELL COSTS:

$2.5 MM

 

 

PROSPECT DESCRIPTION:

This east flank prospect for known field pay sands is a direct offset to the successful 808 ST.  That well encountered 5 sands productive upthrown to a graben fault.  Potential is recognized in this upthrown – 3 way closure for the 4 next shallower sands in that same fault block.  

 

 

SEISMIC:

The 3D is a 2006-2007 vintage survey.

 

 

TRADE:

Farmout to 3rd Party

 

LaBay proposes the terms set forth below to farmout its interest as to the Sublease in the West Cote Blanche Bay Prospect Area. The sublease is owned by Apache (26.25%), Castex Energy Co (26.25%), Energy XXI (17.5 %), & West Cote LLC (30%).  All the partners have indicated that they would farmout on the following terms. The Sublease has a net revenue interest of 71.8334% BPO and 70.8334% APO.  The Farmors will reserve an ORRI equal to the difference between existing lease burdens and 30%.  LaBay will be entitled to a $150,000 prospect fee prior to spudding the initial well.  At such time as payout occurs, Farmors may elect to convert the retained ORRI to a proportionate 20% WI or escalate the ORRI to 2%, proportionately reduced. If Farmee timely commences the actual drilling of such well and prosecutes the drilling of same to completion or abandonment, whether the well is completed as a producer or abandoned as a dry hole, it will have the right to earn additional farmout acreage under a 180-day continuous drilling program.     These terms are to be used for discussion purposes and under no circumstances should it be considered as an offer or in any way binding the parties referred to above.

LOCATION

 

1070 A West Causeway Approach

Mandeville, LA  70471

CONTACT

 

                        Tel:  985-951-2012

    Fax:  985-951-2055

 

Email:  khuffman@labayexploration.com