According to the company, the prospect has potential gross reserves of over 1.5 million barrels of oil, which, based upon current prices, equates to a gross value of more than $120m.
Bering Exploration VP of finance Steven Plumb said that the company continues to strive to add prospects and properties to its portfolio with the goal of building a successful oil and gas company through the drill bit while minimizing risk to its investors and shareholders.
US-based Bering Exploration focuses on identifying, evaluating, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region.
