INEXS™ Studies an Epsilon Energy Ltd. Oil Concession in the Republic of Yemen
Posted on February 27, 2008 – 3:39 pm | by oilandgaspress.com
HOUSTON–(BUSINESS WIRE)–Epsilon Energy Ltd. (Epsilon) recently commissioned Interactive Exploration Solutions, Inc. (INEXS™), a relational geological and geophysical interpretation consulting company, to study a 1.4-million acre oil concession in the Republic of Yemen.
Epsilon, which is traded on the Toronto Stock Exchange as (EPS), has exploration, development and production rights to approximately 902,000-gross leasehold acres in the United States and Canada and approximately 1.4-million leasehold acres in the Republic of Yemen.
The INEXS mapping project delineated the productive Al Waya Field and four additional large structural prospects. Additionally, numerous leads were mapped.
Because of INEXS recommendations, Epsilon signed a farm-in agreement with Oil and Gas Mine Company (OGMC) to acquire 57.14 percent paying interest in the Block 41 Production Sharing Agreement, located onshore in Yemen. A five- to 10-well program is slated to commence this month.
INEXS President Craig Davis explained that in Yemen there is a strong correlation between surface structure and sub surface structure. Therefore, there is more seismic slated for evaluation this year, Davis added.
“The integration of all geological science is the foundation of the successful relationships that INEXS shares with its clients,” Davis said.
This sentiment was echoed by Epsilon President and CEO John K. Wilson:
“INEXS has been a key resource in our pursuit of international assets, wherever we need them, whenever we need them, they have delivered. Experienced professionals providing thorough evaluations on a wide range of assets in a timely manner, we’ve been impressed,” Wilson said.
About Epsilon
Epsilon’s strategy involves developing a well-balanced inventory of oil and natural gas projects in the Middle East and North America, including high potential oil properties in the Republic of Yemen coupled with lower risk natural gas properties within the Appalachian basin in the United States. The corporation employs the strategy of acquiring oil and natural gas leasehold rights near areas of existing established production, with the goal of converting the acquired leasehold rights into proven oil and natural gas reserves, followed by production that optimizes cash flow and return on investment.
Epsilon recently completed an Initial Public Stock Offering and commencement of trading of Epsilon’s stock on the TSX under the symbol EPS.
About INEXS
Interactive Exploration Solutions, Inc. (INEXS™) is a relational geological and geophysical interpretation consulting company offering a full range of services (integrated field studies, undeveloped reserves evaluation, assessment of further drilling potential, full 2D and 3D exploration programs, and AVO modeling and processing) – all evaluated and delivered using the latest technologies by highly skilled and experienced human beings.
Contacts
Naumann Blanchard, LLC
Karen Blanchard, APR, 281-633-6645
Karen_Blanchard@sbcglobal.net
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Tags: Epsilon Energy Ltd., INEXS™, oil, Republic of Yemen
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