GeoPetro Resources’ (NYSE AMEX: GPR) President and CEO, Mr. Stuart Doshi addressed the general assembly at the 2009 IPAA OGIS Conference (Independent Petroleum Association of America – Oil and Gas Investement Symposium) this morning at 8:00 am. During the roughly 25 minute presentation, Stuart reviewed GeoPetro’s current business condition and future exploration/development plans at their five primary oil and gas target project areas which include:
- Madisonville, TX – where the Company owns and maintains a midstream gas treatment facility and producing natural gas field. Projected production to 30 mmcf/day with addition of 2 shut in wells. Also, 18,000 foot exploratory well planned for 2010 to test Bossier Deep play, which has proven to be prolific in the region with 40 to 90 mmcf per day producers put in by Encana.
- Lokern oil project, located in Kern County, CA directly adjacent to the recent major oil discovery (150 to 250 mmbo) announced by Occidental Petroleum (NYSE: OXY). A Stevens/Caneros test well is planned for 2010.
- Natural gas target in the Cook Inlet region of Alaska (where natural gas is getting a healthy premium to lower 48 prices, recently as high as $8 to $9 per mcf).
- Natural gas target in Swan Hills, Alberta, Canada. A Devonian reef well is planned for 2010.
- Bengara II field in Indonesia – where the Company has a 12% working interest carried thru $60 million in development capital from CNPC.
To hear the full presentation (which is accompanied by the Company’s ppt presentation) click on the graphic below: