$OREO Kibby Flats Oil Prospect ReportKibby Flat Pr
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[b]$OREO Kibby Flats Oil Prospect Report[/b]
[b]Kibby Flat Prospect, NV[/b]
American Liberty Petroleum's Kibby Flat Prospect is located in the southeastern part of Nevada's Monte Cristo Valley, and represents estimated ultimate recovery as high as 669 million barrels of oil.
The 7,270-acre Kibby Flat Prospect is located ~135 miles southeast of Reno in the southeastern part of Nevada's Monte Cristo Valley, an elongated northwest-southeast trending basin connected to Gabbs Valley by Stewart Valley.
A report by Jerry Walker, Consulting Geologist, in September 2008 concluded that estimated ultimate recovery (EUR) for the prospect could be as high as 669 million barrels of oil (mmbo). At current prices, the potential valuation for the prospect's ulti-mate recovery estimate of 669 mmbo is $71.15B (calculated at $106.36/bbl WTI Cushing Spot, Apr. 12, 2011).
By way of comparison, Occidental Petro-leum's (NYSE:OXY discovery in 2009 of 1+ billion barrels of oil and natural gas equiva-lents next door in California is believed to be the largest in that state in over 35 years.
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