TSX.V: WVR   Last: $0.01   Chg: +0.000   Vol: 60000   Date: Aug 24, 2015
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Milagro Project

The Milagro project is located in northern New Mexico and southern Colorado.  Resolving a century-old legal dispute provided a unique opportunity for Wind River to obtain a right of ownership cure over 93,591 acres of the 600,000 acre Tierra Amarilla Land Grant. Wind River has since carried out additional studies and expanded the areas of interests for the project, including additional formations and large areas north of the land grant . Three thousand square miles of Aeromag surveying has been completed on the prospect, with surface geological studies in progress.

Wind River has leased 13,185 gross and 9,218 net acres of this territory. Pursuant to the waiver and indemnification agreement with the Tierra Amarilla Land Grant Association, the timing of any expansion within the cure area is at the discretion of Wind River. Wind River plans to continue specific leasing efforts both outside and within the Tierra Amarilla Land Grant in New Mexico and Colorado. 

Detailed studies performed by Wind River geologists and engineers indicate the Tierra Amarilla Land Grant area has extensive oil and gas potential. This includes conventional reservoirs such as the Dakota, Morrison, Todilto and Entrada, as well as unconventional reservoirs, such as the Niobrara oil shale. This trend is located at a depth of 3,500 feet or less and has already been proven to be productive of sweet light crude by previous drilling. Approximately sixty million barrels of oil have already been produced from oil fields that are adjacent to the Tierra Amarilla Land Grant. A majority of this oil production has come directly from the fractured Niobrara oil shale reservoir. These fields include the 23-million-BOE (barrels of oil equivalent) Puerto Chiquito West field that produced an average of over 400,000 BOE per well from vertical wells, which is the highest per-well recovery for any fractured Niobrara oil field in the U.S.