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NXT to Participate in Exploration Well in Green River Basin.

Energy Exploration Technologies ("NXT") (OTC Bulletin Board: ENXT) Calgary, Alberta, has acquired an interest in over 3,300 additional acres covering its Antelope Tail prospect in the Green River Basin of Wyoming, increasing the project area including its adjacent Poblano acreage block to a total of 25,000 acres.

NXT and its U.S. joint venture and operating partner, CamWest Exploration LLC, are moving forward to contract a drilling rig and anticipate drilling the first Antelope Tail exploratory well, pending all regulatory approvals, in the fourth quarter of 2001. NXT believes that the Antelope Tail feature, situated on the prolific Pinedale anticline, is one of the most prospective undrilled structures in the Green River Basin. This prospect was identified and developed as a result of the integration of Stress Field Detection (SFD) data acquired over the past two years with recently acquired high-quality 3-D seismic data.

The Antelope Tail prospect lies on the southeastern portion of the Pinedale anticline in Sublette County, Wyoming, on trend with a number of significant overpressured Lance-Mesaverde natural gas discoveries made over the past several years. Recent discoveries on the Pinedale anticline have been made by BP Amoco at Antelope, Ultra Petroleum at Warbonnet, and Questar Corporation at Mesa-Stewart Point. Wells in these fields have tested at daily gas rates of 10 million to 22 million cubic feet equivalent. Operators report that recoverable reserves on the Pinedale anticline and the adjacent Jonah field now exceed five trillion cubic feet equivalent. Mapping of 3-D seismic data over Antelope Tail reveals an intensely fractured wrench-faulted structure believed to be very similar in character and size to these newly developed pools. NXT and CamWest believe that the Antelope Tail feature has unrisked reserve potential that could exceed 200 billion cubic feet of natural gas.

NXT and CamWest have also reached an agreement with Mountain Petroleum Corporation to complete the currently standing Bull Draw 3-11 gas well situated on the Poblano acreage block on a carried interest basis. A complex multi-stage fracture program to stimulate several thick overpressured Lance sands will commence within two weeks. Commercial success in the Lance sands in this well will validate a large undeveloped gas charged accumulation spread across the Poblano area. Completion and production testing operations are expected to extend over several weeks.

NXT has a 5.625% to 22.5% working interest with varying overriding royalty positions in the Poblano-Antelope Tail Lance-Mesaverde project area.

NXT's proprietary Stress Field Detector is a unique, low-cost, airborne system that can identify subsurface structures, faults and fractures with considerable accuracy. The SFD is a quantum physics-based passive transducer that responds to energy released by subsurface phenomenon under stress. The SFD allows NXT to collect, process and evaluate data for an entire basin in several weeks, accomplishing what typically takes months or years with 2-D seismic and at a fraction of the cost of 2-D seismic. The speed and low cost of the SFD provides NXT and its joint venture partners with a significant competitive advantage in developing prospects and acquiring acreage.

NXT is a U.S oil and natural gas exploration company based in Calgary, Alberta that utilizes its unique proprietary SFD reconnaissance survey system to gain a competitive advantage in developing its prospect inventory.
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Publication:Worldwide Energy
Article Type:Brief Article
Date:Oct 1, 2001
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