Geology

PRODUCING AND PROSPECTIVE HORIZONS

Prior to the Goldstrike merger a strong technical team managed by Petro One completed a significant body of technical work on the property including the definition of prospective development targets based on geologic mapping and seismic interpretation The company defined three horizons of interest in the Milton Area: the Upper Cretaceous Viking Formation, the Lower Mannville/Success Formation and the Lower Mississippian Bakken Formation as prospective on the Petro One lands.  The group also recognized that the Devonian Birdbear as an additional potential zone however no analysis was completed on the zone. Similarly, shallow gas potential was not included as part of the team’s mandate.

The team conducted detailed technical evaluations of the target horizons in 2010.  In the Milton area to date the company has conducted regional and detailed geologic analysis of the Viking Formation in addition to a geophysical investigation of the Success and Bakken horizons supported by detailed geologic interpretation.  The stratigraphic position of the target horizons worked by the Petro One team are shown in Figure 1.

FIG. 1
STRATIGRAPHIC CHART AND TARGET FORMATIONS