BURLESON ENERGY LIMITED - ASX: BUR

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Description

* Company listed May 2006.
* Teamed with AKG Energy, L.P.; owned and run by the Kugler family of Austin, Texas; major shareholders of BUR with two Board seats.
* Interests in oil and gas leases covering approximately 25,000 acres in Colorado and Wharton Counties, onshore Texas.

New Project and Focus Area

* New 3D seismic project area in Colorado County Texas - 119 sq miles (BUR 38% Working Interest)

* Two additioanl large Wilcox reservoirs prospects secured (BUR 36%).

* Multiple targets in conventional reservoirs - range of depths, target sizes, and risk/reward profiles.

* Deeper reservoirs (Wilcox, Edwards and Sligo) include large to very large targets.
o Potential company makers with multi 100 Bcf potential.
o Project area on trend with 600 Bcf Word Field and has analogous targets

* Drilling to commenced February 2010
o First Shallow well (Yegua reservoir) a sucessful gas well

* Subsequent wells to mostly target Wilcox sand reservoir
o Oil and gas potential of >100 Bcf
o First Wilcox well commenced drilling April 2010

* Deep well penetrate Edwards and Sligo reefal reservoirs planned for 2H 2010
o 550 Bcf potential in the 2 reservoirs

Mine For

oil, gas

Location of operation(s)

USA

Address

Level 6, 9 Barrack St
SYDNEY, NSW, AUSTRALIA

Phone

(61 2) 8252 6177

Email

Website

http://www.burlesonenergyltd.com/

Last Updated

21/07/2010