Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXD)‘s Arthur Millholland talks to Proactive London about their announcement of a light oil discovery in Wyoming.
He says he “nearly fell of his chair” with the discovery, comprising 1.5bn to 1.9bn barrels of oil in place, was identified spanning Converse and Natrona Counties, Wyoming – with the majority of the estimated 1.275bn to 1.64bn barrels present across the company’s leasehold in Converse and Natrona Counties, Wyoming.
It comprises multiple zones and production has already begun from the lowermost, Dakota Fm, with the discovery well BFU-14-30VF flowing between 100 and 120 barrels of oil per day.
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