Eureka Energy (EKA)

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Eureka Energy (EKA) is an oil & gas exploration and development company listed on the Australian Securities Exchange (“ASX”). Eureka’s objective is to source and acquire advanced high impact exploration and development opportunities in acceptable international jurisdictions. The opportunities acquired to date are of sufficient size to significantly enhance the value of the company as success is demonstrated. Eureka’s current portfolio is focused on the Sugarloaf Project which is located within the exciting new Austin Chalk Field and the emerging Eagle Ford Shale Field in Texas, U.S.A.

Eureka owns a 12.5% working interest in the large Sugarloaf Project which is located within the exciting new Austin Chalk and Eagle Ford Shale discovery in Texas called the ‘Sugarkane’ Field. The Sugarloaf Area of Mutual Interest (“AMI”) comprises contiguous leases covering approximately 22,000 acres (2,780 acres net to Eureka). The AMI is situated within the Sugarkane Field and provides the Company with an exceptional opportunity to participate in the development of a potential multi trillion cubic feet equivalent (“TCFE”) gas and, importantly, condensate rich resource.

The Sugarkane Field is an exciting field development of substantial size covering an identified area of in excess of 200,000 acres and is proving to have high gas and condensate production. The field is split into 5 separate Areas of Mutual Interest (“AMIs”) and Eureka participates in the central Sugarloaf AMI.

The field consists of two different rock types, called the Austin Chalk and the Eagle Ford shale, that are vertically adjacent and form a single continuous reservoir. The Austin Chalk is a well established play type and the Sugarkane field is an over pressured extension of the traditional trend and in its self represents a commercially viable proposition. The hydrocarbons found in the Austin Chalk are generated in the Eagle Ford shale, which is known as the source rock for the chalk. Over the last ten years and particularly in the US some of the source rocks have become viable reservoirs in their own right as technology and commodity prices have evolved.

In the last 12 months, successful exploration and appraisal activities have established the Eagle Ford shale as one of the most sought after unconventional hydrocarbon resource plays in the USA. The Sugarkane Field sits in the middle of this newly emerging trend and has demonstrable production from the shale which sits directly below the Austin Chalk.

Past exploration on the Kiana licence has identified prospectivity for base-metals and diamonds with both copper mineralisation and diamond indicator-minerals reported. As an explorer, EKA has no customers at present. Eureka Energy competes with major minerals exploration companies such as RIO and BHP, as well as junior explorers.

Eureka Energy (EKA) Products and Services

  • Oil & Gas, Base metals and diamonds exploration

Eureka Energy (EKA) Locations and Subsidiaries

Eureka Energy Head Office
Level 20, 77 St Georges Terrace,
PERTH, WA 6000
Phone: (08) 9440 2640
Fax: (08) 9440 2699

Eureka Energy (EKA) Share Price

Submitted by ASX Listed Company on 21 March, 2010 - 01:57