At January 31, 2020, the Company has seven producing wells and three saltwater disposal wells in the Lea County project. A location has been selected and a drilling pad has been built for the Curly Well.
Amazing will leverage the extensive geological work done on the Pecos County, Texas acreage to select new well drilling locations. Identified and prolific pay zone horizons proven on the acreage include the Queen, Grayburg, Clear- Fork, Wolfcamp, Pennsylvanian, Devonian and Ellenberger. Modern 3-D seismic covers most of the leasehold, where 17 deep exploratory wells were drilled in the early 2000’s targeting Devonian and Ellenberger pay at depths of 8,000-9,000 foot Measured Depth. The Seismic data set primarily targeted Devonian wells which have produced 4 BCFG and 150,000 barrels of oil in the area. Additionally, the data has identified prospects that have yet to be drilled on the acreage and a recent new field discovery by an offset operator in 2017 which will provide additional detailed geological insight as to rock properties, reserves, and production potentials. Amazing plans to shoot a larger 3-D survey which has the potential to uncover additional new target areas from the deeper horizons.
On November 22, 2019 Amazing Energy MS, LLC (“AMS”) a newly formed, wholly-owned subsidiary of the Company closed on the acquisition of assets consisting of certain oil and gas leases encompassing approximately 900 acres, nine oil wells and a saltwater disposal well, all located in Mississippi and generally known as the “Denver Mint Project.” The company plans to restore and enhance production with multiple workovers identified in proven Lower Tuscaloosa pay zones as well as expand production into shallow regional pay zones. Shallow Yegua, Cook Mountain, and Sparta pay zones above 3,300 ft. are regional pay zones that have not been produced in Dinan Field to date. Existing well bores, field infrastructure, and saltwater disposal well reduces cost and time.
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