North Dakota

   
On June 27th, 2017, The Company signed a Farmout Agreement for the acquisition of rights in ten oil fields in North Dakota, USA.
Asset North Dakota

Date of Purchase 

June 27th, 2017
              

 Partners (On average, out of 100%)

21% - Israel Opportunity Energy Resources, LP

23.5% - Thurston Energy Investments 2, LLC

4.7% - Radian Partners, LLC (current)*

6% - different local shareholders

2.82% - Cyprus Opportunity Energy Inc.

*Radian Partners has 3 options to increase its stake in the project, on account of Israel Opportunity’s share.


Area 

The acquired rights’ area contains 10 sections, each approximately 640 acres, in a total area of approximately 6,400 acres.
  

Operator 

Thurston Energy Investments 2, LLC
  

Location 

North Dakota, USA
  

Operation
Milestones


The first two drills have begun.


Potential

CPR by NSAI estimates about 10,671 MBBL and 24,544 MMCF of natural gas (Best Estimate, 2C) for 100% of the license.