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The Crestone Project
The Crestone Prospect is a large, closed anticline located immediately up dip from mature source rocks of the Mancos Shale interpreted to be present in the Crestone sub-basin. The Crestone structure covers an area of 14,570 acres. Well data from the Raton Basin to the east and the San Juan Sag to the west indicate that excellent reservoir characteristics can be expected to be present in the Dakota Sandstone, the primary reservoir target for the Crestone Prospect. Regionally, porosity in the Dakota ranges from 15% to 21% over intervals that are 50 to 120 ft thick. Based on the size of the Crestone structure and the anticipated reservoir quality of the Dakota sandstone, the potential of the prospect is promising. |
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| An excellent correlation exists between the character of the seismic response from the interpreted Cretaceous section and the character of published seismic data from known Cretaceous rocks in the Raton basin and the San Juan Sag. High amplitude seismic traces in the Tertiary Santa Fe Formation, located along the crest of the Crestone structure, are interpreted as bright spots caused by the presence of natural gas in unconsolidated, basin-fill sediments. These indications of gas in the Tertiary section create additional exploration targets, thereby increasing the exploration potential of the prospect. |
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Additional analysis of the seismic data shows that the anticlinal structure that constitutes the Crestone Prospect developed during the early stages of the basin's history. As a result, the Crestone structural trap was present at the same time that petroleum source rocks of the Mancos Shale were being buried and began generating oil and gas.
Recent 3D seismic data has interpreted Cretaceous age source and reservoir to be located across the total prospect area. The Company’s two priority drill targets are estimated to be located 14,000 ft (4,265 m) below surface.
Lexam's Baca Oil and Gas Project contains all of the ingredients necessary to make this an attractive, frontier exploration play. A discovery would turn Lexam's 100,000-acre land position into a strategic asset capable of adding substantially to the oil and gas reserves of participating companies. |
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