Tecton Energy

Tecton Energy has retained Meagher Oil & Gas Properties Inc. to sell certain interests in the Michigan Center Basin Detroit River oil-resource play. The package includes 100% working interest (85% average net revenue interest) in 36,500 net consolidated acres concentrated in six fields in Arenac, Bay, Clare, Gladwin and Roscommon counties, Michigan. Target formations are at 2,500 to 5,000 feet. Production is 130 barrels of oil and 500,000 cubic feet per day from eight producing wells in three fields. Monthly cash flow is $175,000. Upside is 111 owned and operated, proved undeveloped, vertical locations, 351 proved plus probable, and 1,163 proved, probable and possible. Total net resource potential is 54 million barrels of oil equivalent. Tecton's East Hamilton gas- and liquids-processing facility and pipeline are included. The facility has a capacity of 2 million cubic feet per day that is 10% utilized currently. The bid due date is Feb. 25. The effective date is Jan. 1. The closing date is scheduled for March 31. Contact Julia Foster, 303-721-6354, ext. 229.