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RainChief Energy, Inc. (RCFEF)
RainChief Energy, Inc. engages in identifying, financing, and developing oil & gas energy resource properties in North America. This includes the development of the Gulf Jensen Oil Prospect in New Mexico. The company continues to review additional resource properties that combine positive elements of short-term exploration and development costs with high potential for long-term success and financial return.
RainChief Energy has their headquarters in Vancouver, British Columbia. The company's principals and partners combine years of experience in all fields related to exploration, financing, development, and operations of publicly traded ventures in resource-related sectors.
RainChief Energy's Gulf Jensen Prospect is in the southeast New Mexico portion of the Permian Basin, an area covering portions of west-central Texas and southeast New Mexico. The New Mexico portion of the Basin holds three of the 100 largest oil fields in the U.S. The Permian Basin produces 17 percent of United States crude oil and represents two-thirds of Texas' current oil production. Proved reserves are second only to Alaska.
The Permian Basin has production targets from 1,000 feet to 20,000 plus feet in depth. It has produced more than 20 billion barrels of oil since the first oil well was drilled and produced in 1921. RainChief Energy's Gulf Jensen Prospect includes 2,044 acres of oil and gas leases.
Preliminary analysis and comparison of the Gulf Jensen Prospect with other similar geological structures within the Permian Basin suggests that if the Gulf Jensen Prospect is similarly oil-bearing, the acreage included in the farm-in could support as much as 3 million barrels in oil and natural gas equivalent. To farm-in to the Prospect and validate the preliminary analysis, RainChief Energy's intention is to complete an exploration program starting with a seismic work program followed by test well drilling, if warranted.
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