Forest Hill Field
The Company has a 70% WI and a 52.5% NRI in two leases in Wood County, Texas.
The property was acquired in August 2017 along with a 50% stake in Pergerson Energy, LLC, which is a registered oil and gas operator in Texas from LOG. Pergerson will be used by Mayan to operate the Forest Hill assets.
The property has been historically prolific, with more than 230 wells. Currently, these leases are not in production although oil was still being produced from some wells as recently as 15-18 months ago.
Mayan’s Initial Work program propose workovers of (X Wells) with chemicals and application of heat and modernization of facilities. If successful, Mayan believes that each worked over well should be capable of generating XXX bopd)