the region is as i expected, has sections under the reservoir, and probably undrilled as the reservoir went in in the 1950's during the fields expansion..
i pulled up all oil and gas production in the county going back many many decades..
you can see where the oil field starts and ends
you can see a well producing oil north of the reservoir in the region of roundhouse
so the play is proven, the region is producing and the idea of using long horizontals to extract oil from the rock below the reservoir is a sound one.
imho texon have not promoted the play at all as they are securing acreages fro themselves in the region. but imho the prospect is impressive and i dont think its pie in the sky wild catting, its really a very well researched play and a good target with possibly some great reasons for it not to have been drilled.
maybe it was forgotten as the other shales plays were safer, but now they are drilling in all types of shale, and this play has heavy fracturing when the salt leached out of the rock eons ago.. the roundhouse target was a very lucrative and productive play with vertical drilling
tanos has a history of being in the gas regions of this play, and recently they have been drilling as many horizontals as they have verticals.. so very interesting history on the play and the ability to drill a horizontal.
now texon and tanos will drill this oil section
interesting play and interesting target imho
all imho and dyor
TXN Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held