Properties

Buck Peak Prospect

8,400 gross acres (1,100 net acres) located in Moffat County, referred to as the Buck Peak prospect. The acreage position represented by the Buck Peak prospect is located in and around the Buck Peak Field, originally discovered in the late 1950’s and developed on and off through the early 1970’s.  Records from the Colorado Oil and Gas Conservation Commission (“COGCC”) show that the Buck Peak Field has produced over 6 million BOE (barrels of oil equivalent) from the Niobrara Shale geologic formation since its discovery and still has active wells producing which are over 40 years old.

The Buck Peak prospect targets oil and associated wet gas from the fractured Niobrara Shale formation.  In addition, the prospect has demonstrated a potential for coal bed methane and conventional gas production from relatively shallow zones above the Niobrara.  Wells drilled on the prospect acreage by other companies have also indicated both oil and gas production from various zones deeper than the Niobrara.

PetroShare is permitted for 2 which are scheduled to commence drilling in the summer of 2013. Approximately 35 new wells have been drilled within the last 36 months and many more are scheduled for completion.  All wells have produced oil & gas and no dry holes during this 2012 and 2013 drilling program.