16.08.2011 (645 Days Ago)
| Title | ACDP | ||
| Country | United States |
Welcome to American Community Development, Inc. Ticker: ACDP
An emerging junior onshore oil and gas exploration, development, and production company financially well connected, coupled with strong management and technical teams dedicated to creating shareholder value by focusing on exploiting oil and gas reserves in North America, with initial focus in the USA.
The growth strategy includes: grass roots land assembly, exploration, development, joint venture participations, as well as asset and corporate acquisitions.
American Community Development is trading on the US OTC Pink Sheet market under the symbol ACDP.
American Community Development Inc. is an emerging US junior oil and gas exploration, development, and production company, poised for aggressive asset growth and shareholder value.
Management is comprised of a team of seasoned managers in finance, administration, and legal; and technical professionals in the areas of geology, geophysics, and engineering. The company will also be adding an experienced Advisory Board. As individuals officially joint us, their profiles will be included herein.
American Community Development’s initial project is a joint venture to explore the 35,000 acre Sofia Project located in New Mexico. An independent engineering report indicates potential oil and gas reserves of 41,000,000 barrels of recoverable oil. At current prices, the gross reserve value undiscounted is over $4 billion.
The company is currently reviewing an additional project with proven reserves, as well as an additional exploration project.
American Community Development is trading on the US OTC Pink Sheet market under the symbol ACDP.
For more information please visit: http://www.otcmarkets.com/stock/ACDP/company-info
Management & Directors
Bruce A. Thomson, B.A.Sc.
President & CEO; Director
Over 30 years of entrepreneurial business experience in private and public companies, with expertise in management, marketing, and finance. Read More
Edwin Mah, B,Com., SMA, CMA
Secretary, Director
Over 25 years experience in accounting and venture capital finance. Read More
Sofia Prospect
New Mexico (USA)
Summary
American Community Development has entered into a joint venture agreement (Farmin) to participate in the oil and gas exploration and development of approximately 35,000 acres of land in Union county New Mexico, USA; referred to as the Sofia Prospect. The company will have a 50% working interest in a proposed 6 well exploration program.
Description
Well Log
Based on an independent engineering evaluation, the following has been reported:
Six wells have been drilled and logged on the Sofia structure. Although none have produced, the well logs (see log diagram) coupled with 35-miles of seismic data (see seismic diagram) evidence the presence of oil and gas bearing sands, in a dome structure.
The Bravo Dome field to the south (see map diagram) is very prolific and could be considered an analogue field.
The exploration challenge is to drill at the highest elevation of the dome structure in order to exploit trapped oil and gas reserves. As a result of the log and seismic data, there is evidence of the existence of oil and gas bearing sands at the following intervals:
Well Log
- 520 to 538 feet – see log diagram
- 2,948 to 2,965 feet – see log diagram
- 3,255 to 3,295 feet – see log diagram
- 3,700 plus – this deeper target has never been tested and the plan is to test for this zone down to 4,300 feet.
The engineer reports that if these sands are oil saturated the possible total estimated oil in place is estimated could be 407,000 000 barrels. Using a conservative 10% recovery factor, 41,000,000 barrels in place would be recoverable.
In addition to the possible oil reserves, the possibility of significant gas reserves in multiple zones also exists.
Strategy
Cross Section
Seismic
In preparation for drilling, existing seismic will be reprocessed to include the deepest target and additional seismic will be shot to pin point the well locations in order to finalize the design of a six well exploration program. The geologic highes are illustrated in the seismic photo figure x and figure y shows the cross section structure with the existing wells. Based on exploration success, a development drilling program will follow.
Potential cash flow and Reserves
New Mexico – Oil and Gas Reserves (USA)
Share Structure
| Market Value1 | $48,098,424 | a/o Aug 15, 2011 |
| Shares Outstanding | 200,410,102 | a/o May 02, 2011 |
| Float | 90,410,102 | a/o May 02, 2011 |
| Authorized Shares | 3,000,000,000 | a/o May 02, 2011 |
Company Contact Information:
Contact Info
- 250 - 5135 Camino al Norte
- North Las Vegas, NV 89031
- Phone: 702-605-0145
- Website: www.acdp-ir.com
Read All Press Releases Here: http://www.otcmarkets.com/stock/ACDP/news
OTC Disclosure & News Service: http://www.otcmarkets.com/stock/ACDP/financials
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