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K2 ENERGY LIMITED

ASX: KTE

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

K2 Energy Limited is an Australian publicly listed company listed on the Australian Stock Exchange. ( ASX Code "KTE"). K2 Energy is an energy company engaged in solar technology development with an interest in the oil and gas sector. K2 Energy owns 30% of Trey Resources 1 LLC which has oil and gas acreage and production Oklahoma that has exploration potential. K2 Energy holds the exclusive worldwide rights to the Mears Silicon Technology for all solar energy applications from Mears Technologies Inc.

Oil and gas interest – Oklahoma

K2 Energy has a significant exposure to the Woodford and Caney shale gas plays that are being developed in Oklahoma. The primary focus of the company’s efforts has been on the Bad creek 3D project area in Oklahoma.

The acreage is prospective for multiple conventional gas zones and many conventional oil and gas drill targets have been identified from 3D seismic interpretation. In addition there is potential for a significant unconventional gas resource in the Bad Creek Project area.

In February 2010 a new operator, Trey Resources Inc. was appointed to the project which has begun the process of re-evaluating all geological data for the project to design a revised exploration and development plan.

In June 2010, K2 Energy combined its oil and gas interests with the oil and gas interests controlled by Trey Resources Inc. As a result, K2 Energy now holds a 30% interest in Trey Resources 1 LLC, which gives K2 an economic interest in a more diverse oil and gas and production undertaking in the USA. K2 Energy will have the opportunity to invest further in additional exploration at its election, in proportion to its holding in Trey Resources 1 LLC.

Mine For

oil, gas

Location of operation(s)

USA

Address

Level 2, Kyle House, 27 Macquarie Pl
SYDNEY, NSW, AUSTRALIA

Phone

(61 2) 9251 2254

Email

Website


Last Updated

23/03/2011

 

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.