Northern Star Project
Significant resource potential of over 50 million barrels of oil
American Patriot has a 21.5% working interest in the Northern Star Project which covers 61,489 acres in the north-east of Montana, up dip and surrounding the Lustre Oil Field.
- Partnered with Great Western (Operator) and Anadarko Minerals.
- 61,489 acres gross, 12,600 net acres to American Patriot (25% average working interest)
- The surrounding Lustre Oil Field was discovered by Exxon Corporation in 1982, and produced over 7.5 million barrels of oil from the Ratcliffe and Mission Canyon zones.
- Free carried on 2 horizontal exploration wells (no cost caps), plus back-in right on another 2 well option.
- A 3D seismic survey has been conducted on the neighbouring Lustre and Midfork oil fields.
- Excellent oil shows were encountered in a previous well.
- Planning is currently underway for a second horizontal well, which we are free carried on.
- Lower permeability rocks around and up-dip of the old field sweet spot suggests that horizontal drilling can be utilized to target significant resource and value potential.
- Expected IP is 250 to 500 barrels of oil per day (BOPD).