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EUREKA ENERGY LIMITED

ASX: EKA

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Eureka Energy Limited (“Eureka”) is an oil & gas exploration and development company listed on the Australian Securities Exchange (“ASX”). Eureka is solely focused on development of its interest in the Sugarkane Gas and Condensate Field.

Eureka holds interests in the Sugarloaf Area of Mutual Interest (“AMI”) which is located centrally within the Sugarkane Gas & Condensate Field which is onshore in southeast Texas, USA.

The Sugarloaf AMI comprises of contiguous leases covering approximately 23,500 acres and provides the Company with an exceptional opportunity to participate in the development of a potential multi trillion cubic feet equivalent (“TCFE”) gas and, importantly, condensate rich resource.

Eureka owns a 6.25% working interest in the Sugarloaf AMI, an exciting new Austin Chalk and Eagle Ford Shale discovery. Hilcorp Energy, one of the largest privately owned E & P companies in the USA, farmed into the Sugarloaf AMI and became Operator on 1 February 2010. As part of the farmin obligations, Hilcorp are carrying 100% of Eureka’s costs for the drilling, completion, fracture stimulation and tie in of 3 new horizontal wells and the fracture stimulation of three existing wells (Farm-in operations completed in June 2010).

The production results achieved to date within the Sugarloaf AMI and regionally within the Eagle Ford Shale trend support Eureka’s contention that the Sugarloaf acreage is amongst the best in what the industry believes to be the most economic shale play in the USA today.

Mine For

oil, gas

Location of operation(s)

USA

Address

Level 3, 3 Ord Street
PERTH, WA, AUSTRALIA

Phone

(61 8) 9321 9337

Email

Website


Last Updated

14/1/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.