This is about an oil prospect.  If you read the booklet and want to drill this prospect the owner of the lease is looking for an investor.  Ancient buried reef systems have the necessary geometry and organic material for oil to form.  Likewise they are porous so you can suck oil through them.  The oil can form and under the pressure of overburden rock / earth the oil migrates into the highest part of the porous pinnacle reef geometry.


A modern living pinnacle reef system.  You can note the flat top on this reef.  It corresponds with the geometries shown in the seismograms below.   


Precambrian pinnacle reef 300 meters (1000 feet) high surrounded by bouldery talus. From the Little Dal Group (ca. 850 million years old) in the Mackenzie Mtns., Northwest Territories, Canada.  Many times the buried calcium carbonate will fracture due to its lesser density.  This fracturing tends to show up on the seismogram.  The pressure on the material can cause piezoelectric voltage generation that can be used as a means of unconventional oil detection.   The owner of this lease complemented the pre-existing reportmaterial with this unconventional method which yielded a positive result.


Description of the Oil Prospect….From the introduction: The Prospect is a pinnacle reef play of Mississippian age in the productive Hardeman Basin, which comprises Wilbarger and Hardeman Counties., Texas and Jackson Country Oklahoma. The major productive horizon in the Hardeman Basin is the Mississipian aged Chappel mounds of biological origin., which were founded on slight topographic rises of the older Ellenburger Formation.  The major percentage of Chappel Reef Fields in the Hardeman Basin have proven less than 40 acres in areal extent, and can be drained by a single well.  An average Chappel Reef produces 300,000 barrels of oil with many wells producing over 1,000,000 BPE.The Hardeman Basin was relatively unexplored until the mid 1970s due to the known limited lateral extent of the fields.  However by the mid 70's production records of several wells drilled in the 1960's were well over 1,000,000 barrels of oil. and the wells were still flowing.  The phenomenal production of these reefs was now statistical fact. Subsequently a renewed interested in the basin wsa generated in the late 1970's and early to mid 1980's. This extensive drilling caused many significant fields to be discovered and also enabled better drilling and completion practices to be developed in the early 1990's. The drilling and completion techniques now practiced should significantly increase the ultimate roduction of newly discovered fields.It is fantastic to note that at 1,000,000 barrels the value of the oil would be over 100 million dollars.The booklet also includes The prospect booklet contains the following:

  • Hardeman Basin Summary 
  • Seismographic survey of the basin including the Prospect 
  • Prospect overview
  • Petroleum Gas seepage map

Its estimated this well will require 1 million dollars to drill.  Success rates in the area is reported to be 60%.   This property has been scanned with chemical sniffers and is oozing petroleum gas.   You can see the full technical study here


 How a standard oil lease / drilling agreement works – per Alik the lease holder

  • Standard deal is called "1/3 for 1/4" ie by paying for 1/3rd investor gets 1/4 of production ; leaseholders get the rest.
  • In this case drilling and completion cost is about 1.3M$ ; we have 80% NRI (net revenue interest ) leases , meaning that land owner gets 20% (12.5% is Government imposed minimum but often they ask for extra and we also have some baggage with some people); the 80% is split 60/20 between investors and ourselves.
  • Before we drill anything investors will get a 'title opinion' – legal statement regarding legality of our leases. Investor gets paid directly by the refinery, not by leaseholder
  • If we drill a dry hole some of 1.3M will come back because its reserved for completion. Rig wait time hovers around 5 months. Drilling will be supervised by Trio Operating Co. (they have a nice website), I forget the name of the driller but they are 2nd or 3rd biggest in US.
  • State limits production to 160 barrels per day to preserve the long term production potential.
  • Oklahoma state tax is around 7% i think.

If you want to see more detailed information for purposes of investment email me at the address below.

Contact email info: manager AT amarketplaceofideas DOT com

Full scan of the report click here

Categories: Business


Jr. Ramirez MonsterID Icon Jr. Ramirez · December 12, 2008 at 6:45 pm

Have you drilled with any success in Wilbarger or Hardeman county? Are you an operator? or Mineral owner? What type investments do you have?

Jr. Ramirez MonsterID Icon Jr. Ramirez · December 12, 2008 at 6:47 pm

contact me if you have any farmouts

Freemon SandleWould MonsterID Icon Freemon SandleWould · December 12, 2008 at 11:33 pm

This is a lease that a friend of mine has had for a while. I have not drilled any oil wells. I do not know any more than what I included above. It just looks promising and I figured someone who knew the business / science might be interested.

tom harrison MonsterID Icon tom harrison · December 30, 2009 at 6:27 pm

Please send me a copy of your technical investor booklet describing your Chapel pinnacle reef play of Mississippian age in the productive Hardeman Basin, North Texas.
Thank you very much.
Tom Harrison
1767 Auburn Ridge
Draper, UT 84020

人性本色 MonsterID Icon 人性本色 · January 12, 2010 at 5:10 am


Pete Reynolds MonsterID Icon Pete Reynolds · March 15, 2010 at 5:46 pm

I have reef prospects in North Texas to drill.

Freemon SandleWould MonsterID Icon Freemon SandleWould · March 16, 2010 at 6:03 am

Hey Pete: it’s HYDROCARBON …..not hydrocarbin … I had to fix your borderline spammish linkypoo’s spelling.

GMRTECH MonsterID Icon GMRTECH · December 16, 2010 at 11:39 am

Sir,  I have the equipment and expierence to test the area for hydrocarbon deposits to a depth of 2500 ft.   Very high success rate.

Valeri Spurlock MonsterID Icon Valeri Spurlock · March 16, 2011 at 7:07 am

Fine content

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