Based on an analysis of a 7,000 acre field Mesa Energy has made adjustments according to Jeffrey A. Chadwick’s assessment. Mesa’s existing natural gas acreage in Wyoming County, New York is assessed by Chadwick, as revised by the Company, to have potential gas in place in the Marcellus and associated shales in a range from 106 billion cubic feet (BCF) at 50 feet of shale thickness to 425 BCF at 200 feet of shale thickness.
“We are very pleased with Jeff Chadwick’s findings regarding the potential of the Marcellus and associated shales in the Java Field,” said Randy M. Griffin, CEO of Mesa Energy Holdings, Inc. “In addition to the Marcellus, we believe there are multiple stacked pay zones present in the field, including the Utica Shale, and that there is also significant potential for enhancement and expansion of the Medina Sandstone using modern technology.”
“We have completed the evaluation of our 19 existing wells and have determined which wells will be selected for testing of the Marcellus Shale as well as the best locations for the drilling of new wells. We believe we have the team and the expertise to develop our Java Field project to its fullest potential,” added Griffin.
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About Mesa Energy Holdings, Inc.
Headquartered in Dallas, TX, Mesa Energy Holdings, Inc. is a growth-oriented, exploration stage oil and gas exploration and production (E&P) company with a definitive focus on growing reserves and net asset value per share, primarily through the development of highly diversified, multi-well developmental and defined-risk exploratory drilling opportunities and the acquisition of solid, long-term existing production with enhancement potential. Although the Company is constantly evaluating opportunities in the nation’s most productive basins, the Company’s primary focus is currently on the Devonian Black (Marcellus) shale in the northern Appalachian Basin in western New York.
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