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Enhanced Oil Resources Inc. is a
development stage, enhanced oil recovery (EOR), company that
controls approximately 235,000 acres of land within the St
Johns Helium/CO2 field in Arizona and New Mexico where the
Company is developing what is thought to be the largest
undeveloped resource of helium and carbon dioxide gases in
North America. Independent engineering firms have estimated
that the St Johns field contains approximately 15 trillion
cubic feet of in place resources, with a potential
recoverable resource of 5 trillion cubic feet. Development
of the project could result in the Company becoming one of
North America's largest Helium and CO2 suppliers and EOR
producers. The Company’s helium reserves, once in
production, will be sold to Air Liquide under an existing 15
year Take-or-Pay gas contract. The Company’s strategic focus
for CO2 delivery and EOR production is the Permian Basin
where significant potential exists for enhanced oil recovery
from mature, depleted oil fields. |
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