RUNAMUCK DEVELOPMENT PROJECT
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).