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Additional Information
Market: TSX-V
Sector: Oil & Gas Exploration & Production
EPIC: EOR
Latest Price: 0.14  (0,00%)
52-week High: 0.28
52-week Low: 0.11
Market Cap: 21.63M
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Enhanced Oil Resources
www.enhancedoilres.com

Enhanced Oil Resources controls approximately 235,000 acres of land within the St Johns Helium-Carbon Dioxide field in Arizona and New Mexico, where the Company is developing what is thought to be the largest undeveloped resource of helium and carbon dioxide gases in North America.

Development of the project could result in the Company becoming one of North America's largest Helium and CO2 suppliers and enhanced oil recovery producers. The Company’s helium reserves, once in production, will be sold to Air Liquide under an existing 15 year Take-or-Pay gas contract.

 

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Enhanced Oil Resources seeking JV partners for St Johns helium and CO2 field

10th Feb 2009, 12:00 am by Andre Lamberti

Enhanced Oil Resources Inc said it has engaged energy advisory firm Tristone Capital to explore potential joint venture opportunities for the company's interests in the St Johns helium and CO2 field in Arizona and New Mexico.

EOR is the majority owner and operator of the St Johns field which it believes to be the largest undeveloped Helium and CO2 field in North America.

The St Johns Field is estimated to contain 15 trillion cubic feet of CO2 of which approximately 7.4 tcf of CO2 and 30 billion cubic feet of Helium is expected to be recovered over the next 40 years.

Current plans call for the development of the Field and a Helium extraction plant capable of processing up to 500 million cubic feet per day of raw gas and a pipeline of similar size for delivery into the Permian Basin of New Mexico and West Texas, EOR said.

President and chief executive Barry Lasker said "Over the last several years EOR has pursued the early development of this world-class field, including test wells and third party reports covering reservoir analysis, reserves quantification, facility design and costs. The company is well-positioned now to bring in a joint venture partner to continue with full development of the project and thereby provide a new and reliable long term source of CO2 supply to the Permian Basin.”

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