Cameron Meadows Land Company
With existing production of 90 bopd and very low yearly decline, this lease provides RELLC with a foundation of significant cash flow. In addition, two shut-in wells are scheduled for remedial work to increase production by an estimated 200 mcfd and 40 bopd. This lease is estimated to have remaining recoverable reserves of 106,000 barrels from its existing production and 22,000 barrels and 136 mmcf from the remedial work on the two shut-in wells.
Additionally, there are two proved undeveloped drilling locations identified to recover oil that would not be recovered from the existing wells. These wells are about as close to a sure thing as there is due to the significant well control delineating the oil reservoirs. Each well is expected to recover over 200,000 barrels of oil as multiple oil reservoirs should be encountered.
Cameron Parish School Board Lease
With existing production of 10 bopd from CPSB #2 and an estimated 30 bopd from CPSB #4, this lease provides RELLC with additional cash flow to support the lease’s exploration and development activities.
The lease is estimated to have remaining recoverable oil reserves of 75,000 barrels from the producing wells.
Additionally, the company has completed an initial evaluation of the lease based on 3-Dimensional Seismic data. Based on this data, several areas of high potential in a very shallow depth, less than 3000’, have been identified which have generated two exploration wells. The best prospect is expected to recover 500,000 barrels of oil and the second prospect, 150,000 barrels. These wells are very shallow, less than 3000’.
