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Oracle Resources Ltd. is seeking industry and/or capital partners with the capacity and philosophy to share these challenging opportunities.
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World Class Deep Woodbine Play
H&P #72 RIG
Knight Project Summary
The Knight Project is a Woodbine play in the upper Texas Gulf Coast.
The project is an outgrowth of Oracle's 3-D seismic investigation of covering 233 square miles. Oracle's Resources' involvement in this area has been:
1999: Oracle developed geologic model for play
2000: Oracle presents model to industry
2001: Oracle presents model at major conference
2002: Oracle forms Joint Venture
2003: 233 sq. mi. 3D shoot in 2 phases
2004: Phase 1 completed
2004: Operator drills deep Woodbine test, T&A
2004: Phase 2 completed. data merged, interpretation begans.
2005: Operator drills "new field discovery"
2007: Oracle prepares to drill Lucky Strike Prospect!
Project Status
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KNIGHT PROJECT GEOLOGICAL UPDATE
Kimball Creek Field
The Upper and Lower Woodbine below the lower Cretaceous Shelf, which has been a core play for Oracle since our inception in1999, are two of many objectives in the 183 square mile Polk Country 3-D survey that we call the Knight Project. We have identified several highly prospective areas within the survey.
In addition to both Upper and Lower Deep Woodbine sands (Woodbine south of the Cretaceous Shelf Edge), there are secondary objectives ranging in depth from less than 3,000' to below 13,000'. We have mapped numerous shallower zones of interest, including the Miocene, Jackson, Cockfield, Yegua, Upper and Lower Wilcox, and "Midcox". All are present in the 3-D survey as discrete prospects, and several are present as prospective secondary objectives in Lucky Strike.
LUCKY STRIKE PROSPECT
One of the most encouraging aspects of the success of Sunflower Ridge Field is the fact that it sets up another related prospect, Lucky Strike. This prospect is simply a continuation of the Upper Woodbine prograding sands that have been found to be productive in the Sunflower and now the Kimball Creek Field between Double A Wells and Lucky Strike. Objective depths for an Upper Woodbine test at Lucky Strike are expected to be approximately 16,500 feet.
Oracle is preparing to drill its Lucky Strike Prospect. We plan to begin drilling in the 1st quarter of 2007.
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