[posting]57072465[/posting]Oklahoma Operation
Mineral Hill Industries (“MHI”) owns 100% working interest in leaseholds located in Beaver, Canadian, Creek, Kingfisher, Major, and Okmulgee Counties, Oklahoma. The entire leasehold estate is aproximately 4300 acres covering the Anadarko basin, Arkoma, Cana, Scoop, and Stack.
The company has an inventory of 80 wells producing, in addition to some wells which are proved undeveloped, and probable undeveloped locations, allowing for growth and exploration. MHI’s operational plan calls for the rework of several prospect properties starting with the shallowest formations located at 300 and 600 feet in total depth in order to increase daily production totals. Reworking of the wells will utilize bid and budgeted rework assessments as well as 3rd party geophysical analysis and interpretation.
The Oklahoma acquisition is part of Mineral Hill Industries consolidation strategy to accumulate leaseholds with active/inactive wells containing economic reserves, low decline rates, and geological risk. Currently, Mineral Hill is concentrating its efforts in acquiring more prospects around the area and providing Industry services to small and medium E&P companies.