Worldwide Energy adds $15 million in proven oil reservesadmin
Worldwide Energy Corp. has announced results from an engineering report performed by Scicorp for the two Oil and Gas Leases that were recently acquired.
The Thacker lease has 4 wells on 14 acres of land with the lease owned by Worldwide Energy. These 4 wells have approximately 184,676 barrels of primary recoverable oil.
The Thrash lease has 2 wells on 6 acres of land with 49,589 of primary oil.
That brings the total of the two leases to 234,265 barrels of primary recoverable oil. With the recent price of crude oil being around $64 a barrel, the estimated value of the reserves stand at $15 million USD.
Revell Murphy, CEO of Worldwide Energy, stated, “This engineering report is proof of the direction Worldwide Energy is heading. We are excited to continue building value for our shareholders and plan on pursuing other leases in the Lake Caddo Parrish with even larger reserves.”