Prospects

COLORADO

Running Foxes is actively seeking investors/partners for the following prospects.

ROCROI EXPLORATION PROSPECT.  LINCOLN COUNTY, COLORADO

Running Foxes Petroleum Inc. (“Running Foxes”) is seeking an industry partner to participate in the development of the Rocroi Prospect, Lincoln County, Colorado which is a look alike to the Company’s Arikaree Field Discover further north in the same county. The Rocroi Prospect is a 3D seismically defined structure with a bounding wrench fault.  There is also a  soil gas and iodine surface geochemical survey that indicates anomalous conditions overlying the 3D seismic target.  This is also similar to the Company’s field discovery at Arikaree Creek.  The prospect is located in the southern Denver Basin.  The primary targets is the Mississippian, Morrow, Cherokee “C”, Cherokee “A and Marmaton.  Estimated recoveries based on the 3D seismic survey is 5 to 10 MMBO at less than 7,200 feet.

The Company is seeking a 75% partner(s).

KANSAS

LEAVENWORTH DEVELOPMENT PROJECT.  LEAVENWORTH COUNTY, KANSAS

Running Foxes Petroleum Inc. (RFPI) is developing the Leavenworth Project which is mainly gas is located in the central part of the Forest City Basin. The project targets coal bed methane and oil from 1,000 to 1,500 feet. The project has thirty miles + of pipeline and an existing tap. The project is presently producing 1 BOPD and 200 MCFGPD from 40 oil and gas wells. Gas is producing from Riverton Coal and McLouth sandstones and oil from McLouth sandstone. Gas is sold to a third party. Running Foxes Petroleum Inc. is has put in an additional oil well and injector to start at test waterflood. Production should increase oil production from 1 to 2 BOPD to ten or more BOPD. The McLouth sandstone is from 10 to 40 feet thick, one to two Darcy permeability and 17% to 26% porosity. Oil is 210 to 240 API gravity. The coal completed is generally the Riverton. Up to four benches from one to five feet thick plus several additional coals above. The Company has over 25 wells it is converting to CBM production. The Company will put in SWDs to handle the water production. The Company has its own service units, water trucks, etc. to keep costs down. Potential reserves from 5,000 to 85,000 BO per well. Potential reserves from 100 MMCF to 1 BCF per well. Expected increase in gas production from recompletion is expected to increase production by three to five fold.

Running Foxes Petroleum Inc. is seeking up to a 50% working interest partner (s).

 

LIVENGOOD FIELD DEVELOPMENT PROJECT.  BROWN COUNTY, KANSAS.

Running Foxes Petroleum Inc. (“Running Foxes”) is seeking an industry partner to participate in the development of the Livengood Field in Brown County, Kansas. The Livengood Field is located in the Forest City Basin near the Kansas-Nebraska border. The Livengood Field has previously produced over 200,000 barrels of oil from structurally-closed Hunton and Viola porosity zones. Running Foxes has 5,500 acres over the field, and revitalized the field with the drilling of six successful wells based upon subsurface and 3D seismic data. Running Foxes has also acquired a 7 square mile 3D survey over the known field, identified additional field development and extension locations that would not have been identified by subsurface geology, and found a satellite structure to the south that is prospective for development. The Livengood Field was originally discovered in 1944 with a well that commenced production at 85 BOPD and 25 BWPD from porosity at the top of the Devonian Hunton formation. The Hunton porosity is found at a drilling depth of approximately 2,580 feet. Subsequent development of the field included 25 wells drilled to the Hunton, of which 13 were successful producers; and, eight wells drilled to the Ordovician Viola formation, of which 4 were successful. The Viola porosity is found at a drilling depth of approximately 3,570 feet. Running Foxes will drill two development wells, both likely Hunton and Viola producers. The two locations offset the Gruber 3-3D which settled at 70 to 90 BOPD in its first year from the Hunton. There are seven locations remaining based on the 3D seismic plus two additional seismic features that could contain an additional six locations. There is potential of an additional 300 to 500 MBO to be found.

The Company is seeking a 75% partner(s).

MISSOURI

RUNAMUCK DEVELOPMENT PROJECT.   ATCHISON COUNTY, MISSOURI

Running Foxes Petroleum Inc. (“Running Foxes”) is seeking an industry partner to participate in the development of the Runamuck Field in Atchison County, Missouri. The Runamuck Field is located in the Forest City Basin in northwest Missouri. The Runamuck Field has produced over 200,000 barrels of oil from structurally-closed Hunton and Viola porosity zones. Running Foxes has 4,200 acres over the field, and revitalized the field and shot 2D seismic. Running Foxes has identified 10 additional locations that are structurally controlled and could not have been identified by subsurface geology alone. The Runamuck Field was originally discovered in 1986 with a well that commenced production at 125 BOPD and 25 BWPD from porosity at the top of the Ordovician Viola formation. The Viola porosity is found at a drilling depth of approximately 2,800 to 2,900 feet. Subsequent development of the field included 14 wells drilled to the Viola, of which 6 were successful producers. Five wells produce from the Viola and have yielded 2/3rd of the field’s production with an average recovery of 45 MBO per well. One well, the Ball 2, completed in the Hunton yields 1/3rd of the field’s production.  The Hunton porosity is found at a drilling depth of approximately 2,400 to 2,500.  Running Foxes has identified 10 additional locations all of which target both the Hunton and Viola formations based on subsurface geology, 2D seismic, iodine and magneto-tellurics.  There is potential of an additional 500 to 750 MBO to be found.

The Company is seeking a 75% non-operating partner(s).

UTAH

CISCO FIELD DEVELOPMENT PROJECT.  GRAND COUNTY, UTAH

Running Foxes Petroleum Inc. (“Running Foxes”) is seeking an industry partner to participate in reworking and development of the Cisco Field located on the Uncompaghre Uplift, Grand County, Utah. Presently 40 to 50 BOPD is shut-in. The Company wants to re-enter and re-work several wells. In addition, there is an additional 40 to 50 locations on the structure that comprises the Cisco Field. Depths are less than 2,500 feet and reserves vary from 15 to 90 MBO per location on 20 acres.

Running Foxes Petroleum Inc. is seeking up to a 50% working interest partner (s).