The projects ABC, Griffit, Wilson, Groves e Bogen 2 are all shallow areas, Livengood the last project acquired by EGO represents the official entrance of EGO into deep operations. The shallow projects develop in an area of approximately 2000 acres with wells which reach 300 meters and of which EGO holds in between 80and 90% NRI (Net Revenue Interest).
The Livengood area develops over 5700 acres and we are actually operating over an area of 400 acres (which EGO intends to increase in the near future) with wells which reach 1000 meters deep and of which EGO owns 75% NRI (Net Revenue Interest).
The projects mentioned so far refer to the typical activity of Euramerica Gas & Oil and that is projects which imply the acquisition of leases , the drilling and the actual production. Nevertheless the oil market is nowdays offering new and different opportunities , which due to the actual oil prices , need to be caught.
More specifically these opportunities refer to the possibility to acquire producing fiels or part of the production of a certain field. The economic advantage arising from such operations can be highly interesting for in reality it allows to buy future production at the prices now registered.