Permex Petroleum Corporation C.OIL

RE:RE:11000' drilling permit!

[nozzpack]

Thank you 

That is huge informartion

The Sprayberry is located in the southern Midland Basin and is a major oil-producing formation, accounting for more than 700 million barrels of oil as of 1997 (Tyler et al., 1997). 

 

Undiscovered Resources Summary
 

The USGS assessed undiscovered, technically recoverable continuous and conventional mean oil and gas resources for three AUs defined in the Spraberry Formation (table 2).

This is a huge discovery opportunity .

Total estimated mean resources of the Sprayberry Trend are ...

.....4,245 million barrels of oil (MMBO), or 4.2 billion barrels of oil, with an F95–F5 range from 1,873 to 7,635 MMBO;

......3,112 billion cubic feet of gas (BCFG), or 3.1 trillion cubic feet of gas, with an F95–F5 range from 1,080 to 6,200 BCFG;

......and 311 million barrels of natural gas liquids (MMBNGL) with an F95–F5 range from 100 to 652 MMBNGL.

The majority of these resource estimates are within the two continuous AUs.

Mean resources of 5 MMBO with an F95–F5 range from 3 to

10 MMBO and 3 BCFG with an F95–F5 range from 1 to 5 BCFG are attributed to the Northern Conventional Spraberry Oil AU.

 

 

https://pubs.usgs.gov/fs/2017/3029/fs2017173029%20.pdf