This new prospect of about 640 acres has potential gross reserves of 950,000 barrels of oil and equates to $88m dollars of gross revenues.
Currently the prospect is undergoing technical assessment by the company, that expects to initially retain a100% working stake.
Upon completion of technical assessment, the company will begin leasing the mineral rights.
Once leased, Bering will use other advanced oil finding technologies such as telluric and seismic to identify well locations, the company said.
