Sun Cal Energy Inc. Provides Update on Jonah Field Prospects.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Sun Cal Energy Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:SCEY), an energy exploration company focused in the Southern San Joaquin Valley Noun 1. San Joaquin Valley - a vast valley in central California known for its rich farmland Calif., California, Golden State, CA - a state in the western United States on the Pacific; the 3rd largest state; known for earthquakes of California, the Anadarko Basin The Anadarko Basin is one of the most prolific natural gas reserves in North America, with ultimate gas production in excess of 100 trillion cubic feet of gas.[1] External links
References 1. of Oklahoma, the Breton Sound Breton Sound is a sound and a part of the coastline of the U.S. state of Louisiana; it is near Lake Pontchartrain. Two ships in the United States Navy have been named the USS Breton after this area. of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. and the Green River Basin of Wyoming is pleased to provide an overview of current operations and developments in the Jonah Field Jonah Field is a large natural gas field in Sublette County, Wyoming, in the United States. The field is approximately 32 miles south of Pinedale in southwestern Wyoming, and is estimated to contain 10.5 trillion cubic feet (297 km³) of natural gas. prospects. Sun Cal has a 100% working interest in 6,000 acres of high impact gas leases in the Jonah Field region of Wyoming - the second largest proven gas reserve in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Sun Cal Energy's prospects are identified as South Jonah, which consists of 2,477.68 acres and West Jonah, consisting of 3,546.89 acres. Most of the surrounding acreage is currently held by EnCana and Yates Petroleum, with BP and Chevron/Texaco also holding significant positions. Since acquiring the Jonah Field prospects last month, management is pleased to report that the company is currently in the process of acquiring a technical reserve report and formulating a drilling program. Management has also raised and allocated sufficient funds to complete an active drilling program for the Jonah Field prospects while also continuing to remain debt free. As stated by Lewis Dillman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sun Cal: "We are very excited about the potential for our Jonah Field prospects, and we are eager to join the major oil and gas companies that will be drilling throughout the 2007-2008 season. The Jonah Field is a world class natural gas development area, with plans to allow the development of more than 3,000 new wells." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Petroleum Association of Wyoming, during 2006, 3,243 wells were drilled and completed. Of that number, 5.1% found oil, 92.8% found gas, and only 2.1% were dry holes. During 2006, the State of Wyoming was second in natural gas production and recorded its highest level of natural gas production, largely due to two massive but previously undeveloped natural gas formations - the Jonah Field and the adjacent Pinedale Anticline anticline: see fold. . Management is very optimistic with the SunCal prospects given that they exist in close proximity to existing infrastructure, pipelines and producing fields. The significant increase in seismic and drilling activity in the area has resulted in a vastly expanded knowledge base of the region's geology. These factors combined with the growing world appetite for oil and gas presents a timely and potentially lucrative opportunity for management to aggressively explore its Jonah Field prospects. "We eagerly anticipate the completion of the technical analysis and evaluation of seismic data, and look forward to finalizing a work program with several drilling sites in the near future," stated Lewis Dillman: "We look forward to building relationships with the major oil and gas companies in the area, and realizing value from the current prospects and other possible future opportunities in Wyoming." About the Jonah Prospect The Jonah Field and the Pinedale Anticline are acknowledged as the premier gas fields in the Rocky Mountains Rocky Mountains, major mountain system of W North America and easternmost belt of the North American cordillera, extending more than 3,000 mi (4,800 km) from central N.Mex. to NW Alaska; Mt. Elbert (14,431 ft/4,399 m) in Colorado is the highest peak. . These fields are located in Wyoming's Greater Green River Basin. According to the Wyoming State Geological Survey The term geological survey can be used to describe both the conduct of a survey for geological purposes and an institution holding geological information. A geological survey , the Greater Green River Basin contains approximately 26 TCF See Trenton Computer Festival. of natural gas which is the largest reserve in the State. The Jonah Field is estimated to contain 7 to 10 TCF of Natural Gas, which currently produces from more than 500 wells. Currently, EnCana, British Petroleum, Ultra Petroleum and Yates Petroleum are among the major players working in this area. With current well spacing regulations, Sun Cal can drill up to 37 wells on this acreage. With technology developed in the Jonah and Pinedale fields, current completion techniques estimate gas in place between 1.0 and 3.0 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter per well. As such, South Jonah and West Jonah could provide between 37 BCF and 111 BCF of recoverable Reserves at a value of $222 million to $667 million. When the area is down spaced to allow wells on 20 acre spacing, 300 wells could be drilled resulting in nearly ten times the reserves and revenue. As stated by Lewis Dillman: "We look forward to exploring our Jonah Field prospects in Wyoming and adding to our cash flows beyond those of the Hobart and Centurion properties. We will continue to explore opportunities to develop our properties and ultimately seek to add value for our shareholders." Other Sun Cal Projects Lokern Prospect - Sun Cal Energy has the exclusive oil and gas rights for the Lokern Prospect which comprises 400 acres of prime land in the oil & gas rich Kern County region, the most prolific area in the San Joaquin Valley in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . The company owns a 45% Working Interest and a 75% Net Revenue Interest in the prospect. The Lokern Prospect's Structure is well defined based on 2D and 3D Seismic and well data, with an estimated recoverable 75+ million barrels of potential oil reserves. Breton Sound Prospect - Sun Cal Energy holds an approximate 5% interest in a deep Tuscaloosa Prospect and leases situated in the prolific Breton sound area, in offshore Louisiana. The Breton Prospect is located on a seismically defined closure on the eastern extension of the Tuscaloosa trend and is potentially of the same size and closure of other established Tuscaloosa fields on the trend. The average per field reserves for the deep Tuscaloosa fields are approximately 250 BCF. The Breton Prospect also has secondary targets that, should they be successful, could prove to hold significantly larger potential reserves of up to 5 TCF in size. It is expected that an approximate 21,000 foot test well will be drilled in the fourth quarter of 2007. Hobart Prospect - Sun Cal Energy's Hobart Prospect (1,211 acres) in Washita County Oklahoma is strategically located in the Anadarko Basin, part of the Springer Morrow Play - the largest play in the State and Mid-Continent. The company owns a 1.5% Overriding Royalty Interest overriding royalty interest A third-party interest in royalty income derived from oil and gas rights. in wells to be drilled by Marathon Oil on the Hobart Lease. Gas production in the immediate area is in the 10 to 15 MMCF/day range. Centurion Property - Sun Cal Energy owns a 5% Overriding Royalty Interest in the Centurion Property. The Centurion Property combines more than 17,000 acres of producing oil and gas assets across Texas, Oklahoma, Alabama, Louisiana and Mississippi. There are nearly 160 producing wells on the asset with more than 50 additional proven/undeveloped drilling sites. Current production is comprised of 90% natural gas and 10% oil. Well operators include companies such as Exxon, Kerr-KcGee, Hunt Oil, Quicksilver quicksilver: see mercury. (1) (QuickSilver Technology, Inc., San Jose, CA, www.qstech.com) A mobile communications company that specializes in a reconfigurable logic chip for cellphones and PDAs. See adaptive computing. and Vintex. Cherokee Prospect (Pending) - Sun Cal Energy has recently signed a Letter of Intent to acquire a 100% working interest in 8,695 acres of leases in the Cherokee and Forest City Basins of Kansas. The leases consist of 24.9 BCF of gas and over 2 million BBLS BBLS Barrels BBLS Bachelor of Business and Legal Studies (University College Dublin, Ireland) BBLS Be Back Later Sometime BBLS Binary Bent-Lifted Sequence BBLS Bare Base Life Support of oil in reserves. Currently, the leases are producing 2,250 BBLS of oil per month. There are 320 drilled oil wells in the leases. Sun Cal Energy plans to re-complete 208 into gas wells and rework the remaining oil wells. With current reserve figures, the leases could provide in excess of $100 million in net cash flow. Further Information Shareholders and prospective investors are encouraged to visit Sun Cal Energy's website: www.suncaloil.com and download Sun Cal Energy's Investor Summary. Please feel free to call investor relations Investor relations The process by which the corporation communicates with its investors. toll-free at 1-800-798-8334 to receive a full corporate investor's package. About Sun Cal Energy Inc. Sun Cal Energy Inc. is a publicly traded independent oil and gas exploration company with headquarters in Calgary, Alberta, and an operational office in San Francisco, California “San Francisco” redirects here. For other uses, see San Francisco (disambiguation). The City and County of San Francisco (EN IPA: [sænfrənˈsɪskoʊ] . Sun Cal Energy aims to secure and develop a portfolio of oil and gas properties throughout America. The company is strategically placed in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana, and the Jonah Field of Wyoming. Sun Cal Energy Inc. trades under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors : SCEY - "Sun Cal Energy Inc. - Providing Energy Solutions to America". On behalf of the Board J. Lewis Dillman, President and CEO Forward-Looking Statements Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that Sun Cal Energy Inc. can identify and successfully negotiate leases for oil and gas properties in California and Oklahoma, and that the Company can participate in the exploration of those properties. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission. |
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