SME is an oil and gas exploration and development company focused on opportunities in North America.

The development of the Mustang Island 818-L field, located offshore Kleberg County, Texas in waters of the Gulf of Mexico, a field re-habilitation project targeting bypassed or only partially produced gas-condensate. During the period from January 1980 to February 1995, the field had produced a total of 138.9 Bcf of gas. Its principle asset is a 33% working interest in a 20.83 per cent. net entitlement interest (after deductions of overriding royalties) in the Mustang Licence Area.

 

SME is incorporated in England & Wales The USA, is currently the Company’s main country of operation where it is focusing on The development of the Mustang Island 818-L field, located in offshore Kleberg County, in Texas in waters of the Gulf of Mexico.

Operations
The Mustang Island 818-L Field

The Company owns a 33.3 per cent. working interest and a 20.83 per cent. net entitlement interest (after deductions of overriding royalties) in the Mustang Island 818-L Field.

The Mustang Island 818-L field, located offshore Kleberg County, Texas in the Gulf of, is a field re-habilitation project targeting bypassed or only partially produced gas-condensate. The Mustang Island 818-L field was drilled and produced by Samedan Oil Corp in the 1980s, based on 2D seismic mapping. At abandonment some 25 wells had been drilled targeting several stacked clastic reservoir sands grouped as the ‘A’, ‘B’, ‘G’ and ‘I’ sands. During the period from January 1980 to February 1995, the field had produced a total of 138.9 Bcf of gas. Total historic production from the wells within the seismic coverage is 125.6 Bcf.

Reserves

On June 24th 2011, the Operator (Dominion) conducted a four and a half hour test of the I-5 sand which flowed gas and condensate. The length of the test and the fact that stabilised rates were not achieved due to liquid storage limitations means that the test, although positive, is not definitive in establishing Reserves in the I sands in the western fault block. However, since the I-1 well has successfully tested gas and condensate, it is planned to be put on production via an existing pipeline to the Six Pigs facility. In the event that the well continues to produce gas and condensate without a dramatic decrease in either flowrate or pressure, RPS expects that an increase in Reserves in the western fault block will result.

Country of Incorporation & Country of Operation

SME is incorporated in England & Wales The USA, is currently the Company’s main country of operation where it is focusing on The development of the Mustang Island 818-L field, located offshore Kleberg County, in Texas in the Gulf of Mexico.