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Barnett Shale, Texas

The State of Texas is projected to be the number three oil producer in the world in 2019, behind the countries of Russia and Saudi Arabia. The US is the world’s largest natural gas producer with Texas the number one producer in the US.

Through its wholly-owned subsidiary Gas Tap Corp., the Company owns interests in 10 shut-in natural gas wells-8 horizontal and 2 vertical wells-in the Barnett Shale, Texas.


Highlights of the Barnett Shale

  • Established basin with low-risk opportunities and developed infrastructure
  • One of the largest onshore gas fields in the United States: thick, organic-rich shale covering 5,000 square miles
  • Depth of 5,000-8,500 feet; formation thickness of 100-600 feet
  • Current production from field is 3.4 bcf/d
  • Sweet gas pricing: high BTU content results in 20% premium pricing to Henry Hub
  • Excellent pipeline infrastructure with ample capacity
  • Portfolio shift of senior producers away from mature fields opens door for small-caps with a focused, cost-conscious strategy

The strategy is to build a low-risk platform of cash-generating natural gas assets concurrently with establishing high-grade mineral resources focused on metals critical to non-fossil fuel energy-related technologies.

Gas Tap Corp. assets show Proven and Probable reserves totaling 24.6 billion cubic feet of natural gas (“bcf”)*. Estimated operating cashflow per year, after reworking the ten wells is approximately US$10 million (CDN$13 million)*. There is opportunity to significantly increase the asset base to include between 50 and 100 natural gas wells, all connected to pipelines. The natural gas receives the Henry Hub price plus 20%, and as at January 2019, was over CDN$5 per mcf (thousand cubic feet) compared to less than CDN$2 per mcf in Canada.

* NI51-101 Report by MKM Engineering, December 28, 2018 effective Jan 1, 2019

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Natural Gas.  Metals.

Developing Resources For Today's and Tomorrow's ENERGY Needs.

Last Updated: October 1, 2019

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