Mena Hydrocarbons Inc.

Transaction Type
Sellers
Marketers
Post Date
Close Date
Estimated Price
0MM
Description

Mena Hydrocarbons Inc. has retained Moyes & Co. to sell its interests in Montana and Utah.

The properties include 81% working interest (65% net revenue interest) in the 6,200-gross-acre (5,000 net) Lewis and Clark project in northwestern Montana and 99.5% working interest (82% net revenue interest) in the 36,200-gross-acre (36,000 net) Wasatch Plateau gas project in east-central Utah. The Lewis and Clark assets includes shallow Mississippian carbonate reservoirs adjacent to Pondera oil field. The Utah assets includes prospective gas resources from Cretaceous Ferron sandstones with additional coalbed methane potential.

Net proved reserves as of Oct. 7, 2011 for the Montana assets were 400,000 barrels of oil, proved and probable reserves were 1.1 million barrels and proved, probable and possible reserves were 5.4 million barrels.

Mena is also continuing to evaluate several corporate and property acquisition opportunities and will provide further updates as negotiations progress.

Bids are due in early March. Contact Ian Cross, 281-501-7110, icross@moyesco.com.