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<title>Tobinsnet (USA) acquired LAK Ranch Oil Field</title>
<link>https://tobinsnet.com/blog/view/112</link>
<pubDate>Sun, 01 Oct 2023 10:26:00 CDT</pubDate>
<author>Hodgkinson Ross</author>
<guid>https://tobinsnet.com/blog?blogm=view&amp;blogid=112</guid>
<description><![CDATA[<p class="fpg"><strong>Tobinsnet Oil &amp; Gas Ltd (USA) acquired 100% of Maha Energy (US) Inc LAK Assets in Wyoming on March 23, 2023,&nbsp;</strong><span style="font-size:12pt"><span style="background:white"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><span style="color:#444444"><strong>and assumed operatorshi</strong>p.</span></span></span></span></span></span></p>

<p><span style="font-size:12pt"><span style="background:white"><span style="font-family:&quot;Times New Roman&quot;,&quot;serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><span style="color:#444444">Prior to Tobinsnet Oil &amp; Gas Ltd&#39;s acquisition&nbsp;</span></span></span></span></span></span><span style="font-size:11pt"><span style="background:white"><span style="line-height:normal"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><span style="color:black">Maha had drilled&nbsp;eight&nbsp;deviated production wells and&nbsp;six&nbsp;water injector wells on the Field since the acquisition in 2013.&nbsp;</span></span></span></span></span></span></span></p>

<p><span style="font-size:11pt"><span style="background:white"><span style="line-height:normal"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><span style="color:black">Two stratigraphic vertical wells have also been drilled. One was extensively cored and deepened to prospect for oil in the deeper Minnelusa sandstone. </span></span></span></span></span></span></span></p>

<p><span style="font-size:11pt"><span style="background:white"><span style="line-height:normal"><span style="font-family:Calibri,&quot;sans-serif&quot;"><span style="font-size:13.5pt"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"><span style="color:black">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.</span></span></span></span></span></span></span></p>]]></description>
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