Lighthouse Petroleum, Inc. Commits to the Tuscaloosa Marine Shale
HAMMOND, La., Jan. 17, 2013
HAMMOND, La., Jan. 17, 2013 /PRNewswire/ --Lighthouse Petroleum, Inc. (OTC:
LHPT) is pleased to announce it has advanced on its commitment to explore for
oil in the Tuscaloosa Marine Shale. The initial investment in this Shale by
Lighthouse was in 2012, and management of Lighthouse has made the decision to
increase its investment going forward in 2013.
While several elements played roles in Management's decision to expand, the
Department of Natural Resources of Louisiana's belief that there is a
potential of 7 billion barrels of recoverable oil in the area ultimately put
the plan in motion. The two wells Lighthouse has invested in are in the
Liverpool Field Area. The Company's objective is to recover about 2,000,000
barrels of oil that we believe is in the Liverpool Field Area and is still
recoverable. Lighthouse has increased its working interest in the Lucy Lee
well and acquired 35% working interest in the Mina Travis No. 1 Well. Both
wells are located in the St Helena Parish in the Liverpool Field. Details
regarding this information can be found on Lighthouse's filing on
The Project plan calls for the operator to begin installing a Rod Pump and ICI
Hydraulic Golden 120-inch stroke lift on the Lucy Lee and the Mina Travis No.
1. Both wells will be set at 7,000 feet. Lighthouse is expecting, based upon
weather, to have a Rig on location and working on Monday (1/21/13). Once the
rig is on site, it should take anywhere from 10 to 14 days to complete the
Ninety days after production begins, Lighthouse will hire an engineering firm
to complete a reserve analysis on the potential, future recoverable production
from the field.
Information about the Tuscaloosa Marine Shale from
What is the Tuscaloosa Marine Shale (TMS)?
The Tuscaloosa Marine Shale (TMS) is a sedimentary rock formation that
consists of organic-rich, fine-grained materials (sediments) deposited in a
marine environment that existed across the Gulf Coast region approximately 90
million years ago. The TMS includes the Eagle Ford Shale being similar in
geological age. The August, 1987 Bulletin (Volume 7) of the LSU-Basin Research
Institute (BRI), Baton Rouge, indicates a potential reserve of about 7 billion
barrels of oil in the TMS. Its thickness varies from 500 feet in southwestern
Mississippi to more than 800 feet in the southern part of the Florida Parishes
in southeastern Louisiana, within an approximate depth range of 11,000 feet to
the north to more than 15,000 feet to the south.
The current TMS Oil Play targets unconventional reservoirs that are petroleum
source rocks where petroleum hydrocarbons (oil and gas) originated in a high
pressure and temperature geological subsurface environment. Not all of the
petroleum hydrocarbons originally generated have migrated out of the source
rock (TMS) which is now being explored for oil and /or liquid hydrocarbons
with advanced (horizontal) drilling and completion (hydraulic fracturing,
called fracking) technologies in a current favorable economic climate.
In 1977, the La. Geological Survey (LGS) released a report on the Tuscaloosa
Marine Shale, citing its potential for some 7 billion barrels of oil.
Currently, here are the parishes for TMS and Eagle Ford Shale activity:
oEast Feliciana Parish
oSt. Helena Parish
oWest Feliciana Parish
Several companies have permitted wells and producing wells in this shale play.
The companies are:
oEncana Oil and Gas
oDevon Energy Production Company
oExchange Exploration and Production Company
oEOG Resources, Inc.
About Lighthouse Petroleum, Inc.
Lighthouse Petroleum, Inc. is in the initial development stages as a junior
oil and gas company. Lighthouse believes the use of modern technology will
enable the company to reduce its risk in the initial phase of development and
open up new opportunities. Lighthouse plans to create a base cash flow from
reentering these wells and establish the network to acquire additional land
assets in our targeted areas. The management's focus is on acquiring and
developing assets located in the Permian Basin, Mid-Continent Areas,
Tuscaloosa Marine Shale and Arch- Fort Worth Basin. Lighthouse is a growth
orientated junior Oil & Gas Company that trades on the OTC markets under the
Forward Looking Statement
This release contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such forward-looking
statements are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. "Forward-looking statements"
describe future expectations, plans, results, or strategies and are generally
preceded by words such as "may," "future," "plan" or "planned," "will" or
"should," "expected," "anticipates," "draft," "eventually" or "projected." You
are cautioned that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results to
differ materially from those projected in the forward-looking statements,
including the risks that actual results may differ materially from those
projected in the forward-looking statements as a result of various factors,
and other risks. Lighthouse Petroleum, Inc. is an exploration company with
limited experience in the oil and gas industry. At the time of this release
Lighthouse Petroleum, Inc. lacks the financial capabilities to meet its
financial obligations and its management expects to dilute the company's
shares to raise the necessary operating capital. Based upon industry standards
Lighthouse would be considered highly speculative and lacks any competitive
advantage over its competition. Additional risks you should consider are that
this list is limited and additional risk not mentioned may apply: failure to
meet Lighthouse's financial and contractual obligations, Lighthouse's
managerial errors made based upon the Company's limited experience and
knowledge of the industry, commodity risk, acts of God and regulatory risk.
You should consider these factors in evaluating the forward-looking statements
included herein, and not place undue reliance on such statements.
Todd Violette, CEO
Lighthouse Petroleum, Inc.
SOURCE Lighthouse Petroleum, Inc.
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