Colorado Wyoming Reserve is an oil and natural gas exploration company with a
geographical focus in the Rocky Mountain region of the western United States. The
Company's primary objective is the acquisition of interests in undeveloped oil and
gas properties, and the location and development of economically attractive
accumulations of hydrocarbons in such properties through the use of a highly
-integrated ,interpretive approach to the application of three-dimensional (3D) geo-
physical data (seismic data acquired and processed to yield a three-dimensional picture
of the subsurface). The Company's acquisitions of undeveloped oil and gas properties
are accomplished primarily by the acquisition of direct mineral leasehold interests from
private, state and federal lands. Although the Company's Southwest Lisbon property
is currently in production, the Company shall own an interest in this property only
after payout. The Company will begin to have operating income once payout is achieved.
The Southwest Lisbon property is located in the upper 1/3 rd of the Paradox Basin on
the Utah side and the Paradox Basin is located in the S.E. corner of Utah and the S.W.
corner of Colorado.
geographical focus in the Rocky Mountain region of the western United States. The
Company's primary objective is the acquisition of interests in undeveloped oil and
gas properties, and the location and development of economically attractive
accumulations of hydrocarbons in such properties through the use of a highly
-
are accomplished primarily by the acquisition of direct mineral leasehold interests from
private, state and federal lands. Although the Company's Southwest Lisbon property
is currently in production, the Company shall own an interest in this property only
after payout. The Company will begin to have operating income once payout is achieved.
The Southwest Lisbon property is located in the upper 1/3 rd of the Paradox Basin on
the Utah side and the Paradox Basin is located in the S.E. corner of Utah and the S.W.
corner of Colorado.
The Company is a 3D Seismic exploration and production company focused on the Paradox
Basin. CWYR has defined seven structures after four years of seismic science and the
expenditure of approximately $8 million on science, acreage and drilling, by it and its
partners. After payout, the Company shall own 10.6% of structures one and two with
structure one under development. Structure one is producing into a sales pipeline.
Structures three through five, where the Company owns 42.5% working interest, remain
to be drilled. Structures six and seven are in the acquisition phase and the Company would
own 42.5% of these. The Company anticipates additional 3D Seismic work around the
identified structures. The Company would like to expand its current 16,640 acre 3D Seismic
shoot generated in the years 2000 to 2002 by an additional 64,000 acres, in the future, in
order to look for additional structures. Finally, it is worth noting that structures two through
seven need to be drilled.
Basin. CWYR has defined seven structures after four years of seismic science and the
expenditure of approximately $8 million on science, acreage and drilling, by it and its
partners. After payout, the Company shall own 10.6% of structures one and two with
structure one under development. Structure one is producing into a sales pipeline.
Structures three through five, where the Company owns 42.5% working interest, remain
to be drilled. Structures six and seven are in the acquisition phase and the Company would
own 42.5% of these. The Company anticipates additional 3D Seismic work around the
identified structures. The Company would like to expand its current 16,640 acre 3D Seismic
shoot generated in the years 2000 to 2002 by an additional 64,000 acres, in the future, in
order to look for additional structures. Finally, it is worth noting that structures two through
seven need to be drilled.
About Colorado Wyoming, Inc. (CWYR)