I have been investigating the Stone Energy Reference (Page 10) in TRH's ROW Environmental Assessment. If you search the ENBB website you will find Stone Energy's project Titled Threemile 16-17 that was approved 25/02/2011. The location involved is T29s and R22E.
"Threemile 16-17 Oil Well This project proposes to drill a well in the Hatch Point area. The well's surface would be on SITLA land but the drilling targets would be into BLM minerals. Surface location: SLM, T29S, R22E, NWSW S16 Drilling target location 1: SLM, T29S, R22E, NWSE S17 Drilling target location 2: SLM, T29S, R22E, NENW S20"
ThreeMile 16-17 was approved according to the State of Utah Oil/Gas Website on 7/10/2010. It has not spudded according to the same database.
TRH's Environmental assessment for the Right of Way 87966 includes the statement - the same upgrades to the roads has been proposed by Stone Energy and TRH and Stone energy has entered into an agreement in regards to the use and maintenance of this road. The EA also highlights that each application is being treated separately. Importantly, Stone Energy's Threemile 16-17 ENBB notes state that the NEPA process was initiated 15/10/2010 and the Project was approved on 25/02/2011 .
One of TRH's planned Potash holes (ROW UTU 87966) is at the location 29S, 22E. Does this location appear to be similar to Stone Energy's? I believe it is the same location and is the basis of TRH's agreement with Stone Energy.
Why have I undertaken this investigation? TRH's EA estimates 10 days construction time for each ROW. Stone Energy's ENBB was approved in late February. They plan to build the same roads as per TRH's ROW to access state land and undertake oil/gas drilling. I was not 100% confident regarding Topwon's "Drilling in May" suggestion. I did not think it would be feasible given the progress of TRH since late 2009.
However, given this so called agreement with Stone Energy, there is always a chance of a drilling campaign.
TRH Price at posting:
32.0¢ Sentiment: None Disclosure: Held