Based upon third party geological assessments, this particular section of the Diamond Springs prospect represents approximately 25+ drilling locations, out of a total of 75+ overall drilling locations on the Diamond Springs acreage, and up to 1.5mm barrels of crude, out of a total potential 4.3mm barrels of crude that exist on the Diamond Springs acreage.
The company is seeking to drill to a total depth of 800′ with spudding of the well to occur prior to August of 2010. This Morrison test well is to identify the productivity of the both the Dakota and Lakota Sands as well as further verify the existence of a believed stratigraphic trap.
The delay in drilling is currently due to a federal environmental stipulation associated with this acreage, which will expire mid-July. The company is simultaneously determining the deeper targets that might exist on this acreage such as the Dinwoody, Phosphoria and the Tensleep.
