RED FORK ENERGY LIMITED - ASX: RFE

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Description

Red Fork Energy Limited is an Australian publicly-listed company engaged in oil and gas exploration and production in onshore Oklahoma in the United States.

West Tulsa Project

Red Fork Energy’s 100% owned Eastern Oklahoma project covers about ~15,000 acres of land west of Tulsa in Oklahoma. The company has long lease terms for this acreage and is targeting conventional oil and gas horizons as well as shallow coal bed methane horizons. Red Fork’s Net Revenue Interest from lease holdings is 81.25+%. The West Tulsa project has certified reserves 30 June 2008 of ~10Bcfe (2P) and ~14Bcfe (3P).

Initial development has focussed on the Pawnee Prospect within the West Tulsa Project. Phase 1 development at the Pawnee Prospect has seen the Company drill and complete three production wells and a water disposal well. The Company has also established extensive production facilities, including tank batteries, separation equipment and gathering infrastructure. Development at West Tulsa is on-going, with production and reserve increases likely as the project is further developed.

Osage Project

Red Fork’s Osage project, acquired in 2005, is located near the city of Tulsa in Oklahoma. The project is 100% owned and covers ~5,000 acres and Red Fork has a Net Revenue Interest across its lease holding of 80+%. Red Fork’s Osage acreage has several prospective coal bed methane zones, as well as deeper conventional oil targets in the Arbuckle and Wilcox sands. In 2008, Red Fork began an extensive drill program to substantially boost oil and gas sales. This program is ongoing, with production and reserve increases likely as the project is further developed.

Eastern Oaklahoma Project

Red Fork’s East Oklahoma project is located east of Tulsa in Oklahoma. The project covers a landholding of ~110,000 acres with long lease terms and Red Fork’s Net Revenue Interest across its leases is 81.25% or better. The company is developing shale gas, with shallow wells between 500ft and 1,000ft targeting approximately 35-70 feet thick productive zone. Reserves (independently certified) are estaimted to be 0.3 Bcf per well (2p). Development at East Oklahoma is on-going, with production established at East Oklahoma (Wagoner A Station and surrounding acreage) and the Phase 1 development plan underway at East Oklahoma Central. The Company has also established a large inventory of drillable locations (likely to approach 1,400 wells).

Mine For

oil, gas

Location of operation(s)

USA

Address

Level 2, 79 Hay Street
SUBIACO, WA, AUSTRALIA

Phone

(61 8) 9200 4470

Email

Website

http://www.redforkenergy.com.au

Last Updated

02/03/2010