Texas: Palo Duro Basin
LOCATION
Floyd and Motley Counties, Texas
OPERATOR
Meridian Resource Corporation
AVERAGE INTERESTS
Working Interest: 45-70%,
Net Revenue Interest: Varies depending on stage of development
GEOLOGY
Pennsylvanian Shale between 8,000 and 10,000 feet
Average thickness is approximately 1,000 feet
LAND
Gross Acres: ±35,000 ac.
HISTORY
First development wells are scheduled for the second quarter of 2007
Several operators in the area are in various stages of drilling and testing optimal completion techniques for wells in the area
The Company is currently developing an operational plan for the basin based on the results of the offset operations and other intelligence
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