Steuben County, New York
LiteWave Corp has acquired a 75% net revenue interest in the Roark Prospect, Steuben County, New York consisting of oil and gas leases covering approximately 885 acres.
The Roark Prospect is located three miles west of the Howard Field in western New York State. The Howard Field was discovered in 1937 in the Devonian Oriskany Sandstone at 3400' and has produced approximately 4.5 BCFG from ten wells, producing an average per well recovery of 4.5 MMCFG.
Steuben County is within a strong gas market, and is located near a transmission pipeline and storage facilities.
LiteWave plans to drill an initial well targeting the Oriskany Sandstone on a large soil iodine anomaly that extends east and north of the Howard Field, near the point of intersection coincidental with the westward projection of the Howard Field. Consulting Geologists indicate the areal extent of the anomaly is approximately double that of the drilled extent of the Howard Field, so a target with potential in the range of 8 to 10 BCFG is anticipated.
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