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PROFILE
Cobra Oil & Gas Co. is a publicly traded (NASDAQ OTC BB: CGCA) Oil and Gas exploration company with the twin goals of contributing to American energy independence while growing shareholder value.
From its headquarters in Houston, Texas, the Company is focused on identifying short and long term oil and gas opportunities in proven, domestic energy plays.
Whether it is conventional crude or America's oil sands, Cobra's criteria for project selection are based upon building a secure and abundant US resource base that is profitable to develop.
| WHY INVEST |
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Cobra's projects are all located in proven American regions with abundant hydrocarbons.
The Company's conventional oil and gas project in Montana is characterized by shorter term drilling and production. The lower risk of this project allows Cobra the advantage of strategically funding its larger, long term oil sands play in Utah.
Montana ~ Lodgepole & Bakken Formations
Montana has enjoyed renewed and significant investment in its oil and gas industries as of late due to two main factors: new geological findings and new exploration technologies.
New Geological findings
The Bakken Formation is located within the prolific Willison basin, which spreads across North Dakota and Montana into southern Canada, and had produced 105 million barrels of oil to date by ear-end 2007 according to US Geological Survey (USGS).
In April 2008, the USGS released a report on the Bakken that estimated the US portion of the formation contains up to 4.3 billion barrels of recoverable oil and up to 3.0 trillion cubic feet of natural gas (TCFG).
The USGS then released a report in June 2008, which estimated that the North-Central Montana Province represents a mean of 6.19 TCFG of shallow biogenic (continuous) undiscovered natural gas.
According to the June 2008 USGS report, Cobra's two primary Montana drilling targets – the Judith River formation and the Eagle Sandstone formation – represent the combined potential for nearly 4 TCFG.
Utah ~ Oil Sands
Of the 2+ trillion barrels of oil sands resources worldwide, the greatest concentration lies in North America, with the US holding the second largest part.
Within America, Utah represents the largest measured oil sands concentration, with in-place resources estimated at 14 to 15 billion barrels, with an additional estimated resource of 23 to 28 billion barrels.
Utah’s oil sands deposits are found within the eastern part of the state, with 24 individual deposits existing in the Uinta Basin, and 50 more deposits scattered throughout southeastern Utah.
The state’s major oil sands deposits represent overburden thickness (i.e., depth to the oil sands deposits themselves) ranging from zero to 500+ feet, up to 13 pay zones each, and gross thickness ranging from 10 to 1000+ feet.
On an individual deposit basis, estimated/measured oil in-place ranges anywhere from 100 million barrels to over 22 billion barrels.
P.R. Spring Deposit
Of the few geologic units that contain nearly all of Utah’s oil sands resources, one is the P.R. Spring deposit in the Uinta Basin, where Cobra’s holdings represent approximately 15% of the entire deposit.
The P.R. Spring and the Hill Creek deposits are both part of the same heavy oil accumulation, although they are normally treated as separate deposits.
The two heavy oil deposits lie beneath almost the entirety of the East Tavaputs plateau in southern Uintah and northernmost Grand Counties, Utah.
The estimated size of the deposit is 470 sections (square miles), with 350 sections in the P.R. Spring portion and 120 sections in the Hill Creek portion.
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