Rough House Project

Conventional oil play. Drilling in Q1 2017 targeting 200+ BOPD per well – free carried.

American Patriot has a 30% working interest in the Rough House Project which covers 24,221 gross acres in the DJ Basin across the Washington, Lincoln Arapahoe and Elbert Counties in Colorado.

Project Highlights:

  • Rough House is a conventional oil play focussed on stacked pays with multiple carbonate reservoir targets.
  • A farm out was struck in February 2016 with Running Foxes Petroleum, a leading Colorado oil company who discovered the Arikaree Creek oil field – a 1,400 BOPD field.
  • The Running Foxes farm out deal was a 5 well deal, which will involve economic low cost conventional drilling.
  • There are two commitment wells of which American Patriot is free carried, plus a 3 well option.
  • The first two wells will be development wells will be next to the Arikaree Creek Field.
  • Running Foxes has significant on ground operational and development expertise in Colorado, owning its own drill rig fleet and workover units.
  • The acreage is in close proximity to recent oil producing discoveries which have quick paybacks and nearby active leasing:
    • Nighthawk Energy: 300-400 BOPD from 4 wells, currently approximately 1,500 BOPD total production from the Arikaree Creek Oil field.
    • Wiepking Fullerton: 184,00 net acres, 3 wells were drilled recording between 694 and 1,600 BOPD.
  • Includes a vertical drilling opportunity to around 11,000 feet, with large upside potential.
  • There is potential for future JV opportunities with Running Foxes in an Area of Mutual Interest which has been established.

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