$STSC Alexandria Block!!! More properly known as t

$STSC Alexandria Block!!!

More properly known as the South Bucharest Block I-II concession. The Alexandria Block encompasses 114,000 acres and includes the Calinesti field. A summary of the Alexandria Block/Calinesti Field is as follows:

Size/area: 114,000 acres

Average net pay: 25 feet

Depth: 2,400 feet

Proven reserves: 19 BCF

Probable/Possible reserves: 20 BCF

Exploratory/Gas reserves 24 BCF

Total reserves: 63 BCF

Expected initial daily production per well: 1,000 MCF


Working interest:

Net revenue interest:





100%

80%

Expected drilling costs (11 wells @ $800,000): $8,800,000

Expected pipeline costs (30 kilometers): $1,500,000 to $2,000,000