Bald Eagle Energy, Inc., (BEEI.OB) has received support from LAPP Resources, Inc., an Alaskan based oil and gas exploration services company. Bald Eagle Energy contracted with LAPP to provide an independent review of the hydrocarbon prospectively of its recently finalized North Slope oil exploration leases. The leases are just south of the huge Prudhoe Bay Field, the largest oil field in North America.
In a 23 page report, LAPP first made it clear that it has no direct, indirect, or deferred ownership interest in Bald Eagle, nor plans to acquire acreage in the subject area. The report went on to discuss the potential of the leases in terms that made the value of Bald Eagle's position clear.
The leases are in the North Slope hydrocarbon province, which is already home to three super-giant oil and gas fields: the Point Thompson Field (8 trillion cubic feet of gas), the Kuparuk River Field (2.6 billion barrels of oil and 1 trillion cubic feet of gas), and of course the Prudhoe Bay Field (15 billion barrels of oil, 27 trillion cubic feet of gas). The North Slope province (including discoveries in the Beaufort Sea) also contains 69 other fields.
According to the report, the North Slope Basin has approximately 27 billion barrels of discovered recoverable oil, and 52 trillion cubic feet of recoverable gas. Also of interest is the fact that the area has a relatively low exploration and drilling density, and remains under-explored.
The report also emphasizes the importance of the leases' close proximity to the Trans Alaska Pipeline, the all-weather Dalton Highway, and a proposed natural gas pipeline. In addition to the prospect of conventional oil and gas discovery, the leased areas are now suggesting other potentials. Tight oil and gas sands, heavy and/or cold viscous oil, methane hydrates, and shale gas may all be discovered within the lease areas and could contribute, according to the report, substantial reserves.
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