Paris Valley Oil Field
SAE Operator & Earning 50%
The Paris Valley field is the second largest heavy oil field (10-14º API gravity oil) discovered in the Salinas Basin and has not been the subject of commercial activity since the late 1970’s when oil prices were much lower. The California Division of Oil, Gas and Geothermal Resources (DOGGR) has published oil in place estimates of over 100 million barrels for the field.
Salinas has signed an agreement with leaseholders Nations Petroleum to carry out a work program using modern techniques that is designed to prove the commercial potential of the field. If this program is successful there is potential for Salinas to increase its proved and probable oil reserves base to a level many times the 5.5 million barrels booked in NSA.
Salinas will be Operator, earning a 50% interest with the other 50% retained by Nations.
| Discovered | 1948 |
| Last commercial activities | 1978 |
| Resource potential | Plus 100 million barrels (source – the California DOGGR) |
| Reservoir | Miocene Ansberry Sandstone |
| Depth | Between 600’ and 1500’ |
| Number of control wells | 30 |
| Planned initial work program | Two vertical wells, two horizontal wells and 3D seismic |
| Survey Timing | Planning drilling late in 2008 |
