Proactive investors

Revloc, Appalachian Basin, Pennsylvania

Operator:
Admiral Bay (USA) Inc. – 25%
Osceola – 50%

The Revloc project covers approximately 20,000 acres in Cambria County, Pennsylvania and is targeting CBM gas production in the north eastern region of the hydrocarbon prolific Appalachian Basin which has been producing gas from coal seams since 1932.  The project area is close to the strong gas markets of the eastern US Seaboard. [READ MORE]

Centurion

The Centurion Project is a conventional oil play located in Sumner County, Kansas.  It is situated between the towns of Wellington, KS in the west and Oxford, KS in the east and extends southward toward the Kansas – Oklahoma state line (Figure 1).  There are approximately 15,496 gross acres currently leased by Running Foxes Petroleum within the project area.  This acreage is fee land that is otherwise used for farming or ranching purposes.  Within the project area lies 73 producing and abandoned oil fields with production from multiple Paleozoic reservoirs.  These reservoirs are lithologically either clastic or carbonate reservoirs and exploration has been continuous in the area since the late 1920’s. (READ MORE)

Marcellus Shale Project, Appalachian Basin, Pennsylvania

Operator:
Running Foxes Petroleum Inc. – 50%
Osceola – 50%

This project has evolved from Revloc where some Devonian Marcellus Shale intersections in Osceola/Admiral Bay CBM wells were found to be organically rich and excellent candidates for shale gas production.  Our Revloc partner, Admiral Bay, elected not to develop the shale gas and so Running Foxes Petroleum joined forces with Osceola and assumed operation of this project.

The Marcellus Shale is at the early stages of exploitation as a significant gas resource in this part of the Appalachian Basin. [READ MORE]

Big Sky, Powder River Basin, Montana

Operator:
Running Foxes Petroleum Inc. – 50%
Osceola – 50%

The Big Sky project is located in Carbon County, Montana.  The primary target is the Greybull sandstone.  There are several fields in the area that have been prolific producers from this formation at depths shallower than 4,000 feet.  Secondary targets are the coals and Carbonaceous shales of the Eagle formation.  To the north east of the licence Bill Barrett Resources (BBR: NYSE) has made a number of gas discoveries in the Cody shales also known to be present within the licence area. [READ MORE]

Solitaire, Denver - Julesburg Basin, Colorado

Operator:
Admiral Bay – 50%
Osceola – 50%

The Solitaire project is located in Kit Carson County, Colorado, straddling the Colorado/Kansas border, and covers 47,000 acres.  The project is along trend with several large producing gas fields operated by Berry Petroleum (BRY: NYSE), Noble Drilling (NBL: NYSE) who have indicated that they expect the play to produce 5 TCF (trillion cubic feet) of gas, Delta Petroleum (DPTR: NYSE) and Rosewood Resources (private).The project is targeting primarily the Cretaceous Niobrara shale at less than 1,500 feet.  A major pipeline with high take away capacity runs through the centre of the licence area. Geological work and the re-interpretation of aeromagnetic data have been completed.  Three wells are being staked targeting the Mississippian formation. Below the Niobrara there are also several potential pay zones in the Lansing-Kansas City, Marmaton, Cherokee, Morrow and Mississippian horizons.

David Bramhill       Chairman

Andrew Yeo           Chief Executive Officer

John Michaels        Non Executive Director

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