Profile: Conquest Petroleum Inc (CQPT.PK)
24 Feb 2014
Conquest Petroleum Incorporated (Conquest), formerly Maxim TEP, Inc., is an oil and natural gas exploration, development and production company focused on the onshore United States. The Company’s oil and natural gas properties are located in Louisiana and Kentucky. As of December 31, 2009, the Company’s total proved oil and gas reserves were 141,017 barrels of oil equivalent. The Company’s properties include Delhi Field, Richland Parish, Louisiana; Marion Field, Union Parish, Louisiana, and Belton Field, Muhlenberg County, Kentucky.
The Company has acquired leases and mineral rights to recover oil and natural gas within the United States. The Company has mineral right leases on 1,400 acres in the Delhi Field, in north-east Louisiana. The Company’s lease encompasses a portion of approximately 13,636 acres comprising the Delhi Holt Bryant Unit and Mengel Unit. During the year ended December 31, 2009, the Company had a 95.8% working interest and 82.7% net revenue in this field. It has mineral rights (down to 3,200 feet) on approximately 21,500 acres in Union Parrish, Louisiana, which is a natural gas field, which produced approximately 600 million cubic feet a day from approximately 500 wells from the Arkadelphia Gas Zones sand. The Marion field is part of the Monroe Gas Field, which is the gas field in the United States. It is located in Northeast Louisiana, in Union Parish, which has 8,558 wells. The oil producing Cotton Valley and Smackover formations are also present within the leasehold. In addition, the Company has leased deep mineral rights (down to 9,500 feet) on approximately 8,000 acres of the 21,500 acres. The Company has a 100% working interest and 71% net revenue interest in this field.
The Company has mineral rights on approximately 3,008 acres in Muhlenberg County, an oil and gas field in the Illinois Basin, in west-central Kentucky. The Company has a 100% working interest and approximately 76.5% net revenue interest in this field. As of December 31, 2009, the Company had begun a 14 well work-over program on its field, the Delhi Field in Louisiana. Of the 14 wells, eight were completed in the Mengel Sand and there were six water injection wells in the Mengel Sand in operation. The Company has 515 small natural gas wells in its Marion field in Louisiana.
Conquest Petroleum Inc
Suite 205, 13131 Champions Drive
HOUSTON TX 77069