One-Page Deal Sheet
PetroTech Inks LOI for Barbee/Brown Leasehold in Okla.
Petrotech Oil and Gas Inc. Cavu Resources Inc.
Announced Date
September 17,2013
Transaction Type
Property
Enterprise Value (EV)($MM)
1
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent
Country
United States
State
Oklahoma
Calculated Metrics( EV/Category)
$/ Acre
$/Location
Transaction Details: Subscribe to see
PetroTech Oil and Gas Inc. has entered into a Letter of Intent with Cavu Resourses Inc. to purchase and acquire 100% of the working interest, and 81.25 % of the net revenue interest for 240 acres known as the Barbee/Brown lease.
The lease(s) has 26 wells that can be reworked. This should generate approximately 20 to 30 Barrels of Oil Per Day (BOPD), approximately $90,000 per month, and that there are approximate 30 drilling locations on acreage available at the Bartlesville Zone at 700 feet (Average wells come in and produce at 10 to 20 BOPD for approximate 2 to 6 month period and then level…
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