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Z2, LLC (“Z2”), a Florida LLC incorporated in September, 2003 was formed to acquire 100% of the working interest in the Big Foot Field, a 7,400 acre oil field located in Frio and Atascosa Counties, Southwest of San Antonio, Texas.
First discovered by Shell Oil in 1949, the Big Foot Field has yielded over 30 million barrels of oil over the past five decades. The most recent evaluation of reserves, prepared by Lee Keeling & Associates, indicates future recoverable reserves at approximately 9.5 million barrels of oil equivalent.
The Field has in excess of 200 proven undeveloped well sites, with estimated total reserves of approximately 50,000 BOE in place per well based on 10 acre spacing, a proven and accepted development strategy in the area. Monthly production averaged almost 17,000 barrels for the last quarter of 2007.
Z2’s management team has over 100 combined years of experience in the oil and gas and financial services industries. The names and biographies set forth the title within the company and the experience of each member of the management team. You can view the Z2 team here. |