Regional Overview
Diamond Springs is located within the Wind River Basin Province of central Wyoming, which is estimated by the United States Geological Survey to contain 41 million barrels of oil, 2.4 trillion cubic feet of natural gas, and 20.5 million barrels of natural gas liquids.
Other major operators who are active in the Basin include Conoco Phillips (Mkt Cap: $132B), Encana Corp (Mkt Cap: $63B), and Devon Energy (Mkt Cap: $53B). Independent operators include Howell Petroleum, Petroleum Resource Management, Richardson Operating Co, and Rockwell Petroleum.
The Prospect
The Diamond Springs prospect is composed of three independent but geologically similar prospective locations within the 3,300-acre track. West of Casper, Wyoming, in the Sweetwater Mountains, this prospect is adjacent to both the Wind River Basin and the Casper Arch in Fremont County and is in close proximity to productive gas and oil fields.
The Northwest, North, and West Diamond Springs are shallow drilling prospects, 200' to 1100' in depth, with 72 possible drilling sites within the three locations, based on 40 acre spacing. The drilling sites consist of stratigraphic pinch-outs of sands of the Cretaceous, Frontier, Dakota, Lakota, Jurassic, Morrison, and Sundance formations
Independent geological assessments potentially believe there to be greater potential for further exploration in the deeper formations that may be present within this prospect. Initial focus is to exploit the shallower formations in order to take advantage of reduced investment risk and quicker return on investment.
View the Diamond Springs Geo Sensing Map
The Drilling Location
The first well to be drilled will be the DSP #1 which is located in the Northwest segment of the Diamond Springs Prospect.
An independent Geologic report by geologist C. P. Abrassart's concludes that the Diamond Springs Prospect's Northwest segment has the potential to yield up to 2 million barrels of recoverable oil in shallow wells, which translates to gross revenue of approximately $120 million at current pricing. From the Geologic report, In-House estimates propose that, not considering natural gas, reserves on the entire Diamond Springs Prospect could exceed 4.3 million barrels of oil, with potential revenue of over $250 million. With this much potential production from less than 1,000 feet, the prospect could offer very attractive economical returns.
In C. P. Abrassarts 3rd party Geologic report, the Diamond Springs stratigraphic trap is compared to a similar trap in the nearby Cottonwood Creek Field (Big River Basin), which has estimated reserves of over 60 million barrels of oil. Many such traps have yielded significant reserves in the Rocky Mountains area.
View the Diamond Springs Proposed Well |
Lighthouse Petroleum acquired a 25% working interest in the Diamond Springs Prospect in October of 2008. Our other working interest partner and operator include Force Energy Corp, a publicly traded bulletin board organization which trades under the ticker symbol FORC.OB. Force Energy and Lighthouse Petroleum are actively working to develop the two initial drilling locations, DSP #1 and DSP #2. Drilling is expected to commence prior to August 2010.
More Information Coming Soon!
