Sun Cal Energy Inc., an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound area in offshore Louisiana and the Green River Basin of Wyoming has announced the addition of 8,695 acres of high impact oil and gas properties in the Cherokee and Forest City Basins of Kansas.
Sun Cal has signed a Letter of Intent to acquire a 100 percent working interest in 8,695 acres of leases in the Cherokee and Forest City Basins of Kansas. The leases consist of 24.9 BCF of gas and over 2 million BBLS of oil in reserves. Currently, the leases are producing 2,250 BBLS of oil per month.
Currently there are 320 drilled oil wells in the leases. Sun Cal plans to recomplete 208 into gas wells and rework the remaining oil wells. With current reserve figures, the leases could provide in excess of $100 million in net cash flow.