Company Selects Two Drill Sites in TX, with Potential Gross Reserves of 2.35M Barrels of Oil
Bering Exploration Inc. officials announced that its geological and engineering teams have completed their analysis of available structure maps, cross sections, well logs, production data, core data, and seismic information and identified and staked two drill sites for the company's Gohlke Prospect and completed a survey of the sites. The Gohlke Prospect, located in DeWitt County, TX, comprises a total of 272 acres and targets five potential zones in Frio, Yagua, and Upper Wilcox. The entire prospect has potential gross reserves of 2.35 million barrels of oil which, based upon today's prices, equates to a gross value of more than $218 million dollars. Bering currently owns a 100% working interest in this prospect.