2009-07-08-2009-06-11
To purchase 12,600 acres in UT.
Internet-marketing firm BayHill Capital Corp., South Jordan, Utah, (OTCBB: BYHL) is making a strategic leap into oil and gas with plans to acquire 12,600 acres in Utah from five separate sellers for undisclosed prices in stock. Properties to be acquired from Genesis Energy Holdings Ltd., known as the Grassy Trails Field, with a total of 5,630 acres, has seven wells producing from the Moenkopi A at approximately 3,745 feet. There is additional potential production from in the Moenkopi B and C zones and from the Sinbad formation at 3,900 feet. A carbon dioxide reservoir is present in the Navajo formation. Properties to be acquired from Pacific Energy & Mining Co. (Pink Sheets: PEMC), known as the Greater Cisco Field with a total of 4,020 acres, has five wells producing from the Mancos, Dakota and Morrison formations at depths from 300 feet to 1,100 feet. There is additional potential production from these formations and from the Deeper Entrada formation at 3,000 feet. Properties to be acquired from Nathan Oil LLC, known as the Cisco Springs Field, with a total of 1,440 acres, has four wells producing from the Morrison formations at depths from 1,500 feet to 1,900 feet. There is additional potential production from the Dakota formation at 1,500 feet. Properties to be acquired from Cisco Oil LLC, known as the Cisco Townsite Field, with a total of 100 acres, has two wells producing from the Dakota and Morrison formations at depths from 500 feet to 900 feet. Properties to be acquired from Retamco Operating Inc. include the exploratory South Monument Butte prospect with 640 acres and no production. Target formations are the Green River at 5,500 feet and Mesaverde at 12,500 feet. Bayhill will also acquire the South Gordon Creek prospect with potential from the Ferron sandstone. BayHill has determined to pursue a strategy of engaging in the production, exploration, development and acquisition of oil and gas reserves in the Rocky mountain region of the Western U.S.