Homeland Resources is now conducting a large-scale three-dimensional seismic program at Liberty Ridge project in southern Oklahoma and has almost completed 50% of the program. Therefore, the company has started a project development plan and to locate drill sites for high-priority targets.
Several high-priority sites have been recommended by efficient processing and digital modeling of the initial phase of three-dimensional seismic data at Liberty Ridge. This development plan is to immediately choose the targets in five well increments. It is anticipated to confirm the drill targets and to verify the drilling dates.
By the Liberty Ridge seismic shoot, the company expects to find atleast 50 new drill sites across the major 130 square mile parcel and likely to recover over 5 million barrels of oil. The main aim of this three-dimensional seismic program is to trace several new oil fields across the complete land site and entirely use the proprietary facts for new discoveries. This information provides high-priority drill spots to Homeland.
The company is considering that these wells would produce more than 600 barrels of oil per acre foot, based on the parallel periphery field results at Liberty Ridge. The primary oil production is more than 200 barrels of oil per well/per day.
Source: http://www.homelandresources.com/