Empire Petroleum Eyes Wyoming Leases

Tulsa-based Empire Petroleum Corp. signs formal agreement with Viking Exploration LLC, of Littleton, Colo., for an option to purchase all of Viking’s leasehold and producing interests in the Okie Draw and South Okie Prospects in Natrona County, Wyo.
Empire purchased a six month option to purchase 2,630 net acres of oil and gas leases known as the South Okie Prospect in Natrona County. The Tensleep Sand at depths from 3,300 feet to 4,500 feet is the primary target. The Tensleep is an oil reservoir with a potential of 700 barrels of oil per acre foot recovery.
Empire’s first step in exploring this prospect will be to acquire 11.5 miles of seismic data and carry out a careful study of the structural, borehole and surface geology. This is expected to be done over the next few months and, subject to the results of such study, Empire intends to carry out actual drilling operations in June 2010.

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