Sun Resources Enters the Eagle Ford Shale – Eaglebine

Sun Resources, an Australian based independent, has announced the acquisition of the Delta Oil project in Texas. The 10,000 acres is prospective for the Eaglebine formation. It will be interesting to see what county this is in.

Most activity that targets the Eaglebine is in the norther portion of the play in Burleson County and Milam County. Wells targeting the Eagle Ford have been drilled as far north as Leon County, TX.

I’m sure we’ll find out when this deal closes.

Sun Resources (ASX: SUR) is positioned to acquire a significant oil project in the U.S., with the company’s shares currently in a voluntary suspension due to a capital raising plan being undertaken.

The acquisition of the Delta Oil Project – consists of an extensive 10,000 acres of oil and gas leases in the emerging ‘Eaglebine’ oil play within the shallow oil zone of the Eagle Ford Shale trend.

Independent consulting firm Ralph E. Davis has estimated unrisked 10 million barrels of net Prospective Oil Resources in one sand unit of the Delta Oil Project.

Read the full news release at proactiveinvestors.com.au

 

 

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Kenneth E. DuBose

Kenneth E. DuBose

Kenneth DuBose is the past President of Cheyenne Minerals Inc., an independent oil and gas operator. He began his energy industry career with ARCO Oil & Gas. Mr. DuBose then directed development of natural gas storage projects with Tejas Power Corp. He was a founding member of U.S. Minerals, (acquired by Torch Energy in 1999) a provider of internet based education for America’s mineral owners. Mr. DuBose holds a BS in Petroleum Engineering from Mississippi State University. He has served on various industry steering committees, non-profit boards, and is an active member of the Society of Petroleum Engineers, the National Association of Royalty Owners, the American Association of Professional Landmen, as well as being a Registered Investment Advisor. He writes on topics of oil and gas investing, wealth management and personal finance, having appeared in the Wall Street Journal, Kiplinger’s, Kiplinger’s Personal Finance, Houston Business Journal, Financial Advisor and various radio and TV outlets.

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