News and Announcements
Sprint Energy Signs Agreement for Up to 70% of 13MBBL Indicative Recoverable Reserve in Penza region, Russia
- Published September 19, 2012 3:20AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Sprint Energy to acquire up to 70% interest in Burtasi Oil which holds 100% of the Shatkinsky and Pionersky oil and gas licenses in the prolific Volga-Ural Basin, Penza Region, Russian Federation;
The Shatkinsky and Pionersky licenses have six, seismically mapped and near drill-ready prospects, with a total of 71mmbbls OOIP (original oil in place) or 13mmbbls, P50 indicative recoverable reserves, from the same formations as those currently producing in adjacent oil producing fields in the Carboniferous and Devonian carbonates.
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