$FTXP Wind River Basin
The Company owns approximately 16,000 acres of leaseholds located in Fremont County, Wyoming. This acreage position provides the Company with substantial upside in the form of attractive exploration and development projects targeting multiple formations across predominantly continuous oil and gas leases. The Company plans to retain a third-party engineering firm to perform a comprehensive geological and geophysical analysis of the acreage to quantify possible and contingent reserves for this developmental acreage.
The Company’s acreage is located in a large undrilled area and is along the eastern flank of a deeper sub basin in the Wind River Basin proper, where a deep structural deposit called the Beaver Creek field has produced approximately 71.7 million barrels of oil and 906,473,338 MCF of gas. The Big Sand Draw field, updip to the south, has produced some 60.8 million barrels of oil and 214,923,203 MCF of gas from multi-pay horizons generally in the Frontier, Muddy, Lakota, Morrison, Phosphoria, Tensleep and Madison formations. The Paleozoic aged section is the primary objective, and the Phosphoria, Tensleep, Madison and Flathead Formations of the Paleozoic have yielded significant oil production in a number of regional fields down dip to the west, updip to the south and along structural trends farther to the west - northwest.