LEAVENWORTH DEVELOPMENT PROJECT
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).