Imperial has agreed to take this nominal position in order to be involved in this well and its new conservative stimulation methodology used for the first time in the same formation targeted in the Oklahoma prospect.
The Oklahoma prospect is Imperial’s first planned transformational Resource Play designed to fulfil the first stage of the company’s growth plans.
Assessment of the drilling results, particularly the engineering and performance of the stimulation process applied to the formation, is expected to further de-risk Imperial’s planned participation.
Imperial has agreements in place to take a major working interest position in an Oklahoma resource play.
This acreage position is in excess of 20,000 acres and will include in excess of 14 horizontal wells in the development program.
