Colorado County

New Standard also holds a 32.5% working interest in the Colorado County Project located in Colorado County in the heart of the onshore Texas Gulf region (one of the world’s most prolific onshore production regions). The Heintschel field was discovered with the Colorado County Project area in 2010 and has undergone a small amount of appraisal and development since then. The Project is operated by AKG Energy (also an equity participant) who has in excess of 35 years of experience in onshore USA.

The initial drilling campaigns during 2010 and 2011 delivered encouraging results and the Company has achieved its aim of becoming a producer from an onshore project with significant upside potential. Of the initial exploration wells drilled, four are currently tied into production (Heintschel #1, Heintschel #2, D.Truchard #1 and Joann #1) and generating monthly cashflow.

Joint venture acreage within the onshore Gulf Coast of Texas

Joint venture acreage within the onshore Gulf Coast of Texas