Achievements in 2018
1. Feb 2018: Announced change of company name to Eon NRG Ltd (ASX ticker changed to E2E).
2. Mar-Apr 2018: Announced diversification of asset portfolio in staking of lode claims in Nevada (adjacent to historic Lovelock Cobalt Mine leases).
3. Apr 2018: Successful gas well recompletion results -Silvertip Field (650 Mcf/d 30-day IP, produced 50,000 Mcf of gas in the first 100 days after recompletion with a 10x ROI.
4. July 2018: acquired 640 acres from State of Wyoming in Powder River Basin (PRB).
5. Repaid $300k off ANB loan which repaid term note in Aug 2018.
6. Sep 2018: 15,000 acres of leases acquired in PRB , 100% working interest (WI), 87.5% net revenue interest (NRI), 10 year lease terms with no drilling commitments, multi stacked reservoirs and outstanding offset production history.
Why do we have confidence in the Govt Kaehne #9-29 well?
- Offset wells have good initial production rates (IP's) and estimated ultimate recovery (EUR)
- Strong water drive which results in higher recovery and lower production decline rates
- 100% working interest and 87.5% net revenue interest
- Well is located in a structurally high position in a reservoir that is oil rich with 30-40' of pay expected in the Dakota Formation
- Directionally drilling the well to intersect the targeted pay
- Close to service town (Gillette) and good access for transportation of the oil from storage
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About EON NRG Ltd
EON NRG Ltd (ASX:E2E) is an USA onshore focused energy exploration and production company. The Company's growth path is through drilling of high impact oil exploration wells, supported by its 100% owned and operated long life oil and gas production assets and associated cashflow. The company also has a battery minerals division with prospective leases in Nevada which are at the early stages of low-cost exploration.
EON NRG Ltd