Sunday, October 01 2023
Tobinsnet Oil & Gas Ltd (USA) acquired 100% of Maha Energy (US) Inc LAK Assets in Wyoming on March 23, 2023, and assumed operatorship.
Prior to Tobinsnet Oil & Gas Ltd's acquisition Maha had drilled eight deviated production wells and six water injector wells on the Field since the acquisition in 2013.
Two stratigraphic vertical wells have also been drilled. One was extensively cored and deepened to prospect for oil in the deeper Minnelusa sandstone.
Extensive fieldwork and laboratory work have confirmed the results obtained in 2007 by Ivanhoe Energy (previous Operator), and a Recovery Factor of 20% has been assigned to the Field by independent experts engaged by Maha. RPS Knowledge Reservoir calculated a best-case estimate of original oil in place (OOIP) to be 62 million barrels. To date, less than 150,000 barrels of oil have been produced from the LAK Field.