Chattanooga Shale

Geomet And The Chattanooga Shale

Geomet, Inc. (GMET) has significant acreage under lease in Northern Alabama that is prospective for the Chattanooga Shale. The company recently released data on some of the geological characteristics of the Chattanooga Shale.

Thickness – 35 to 75 feet
Depth – 1600 to 2100 feet
Organic Content – 9% to 16%
Reserves (Vertical) – 300 million cubic feet
Reserves (Horizontal) – 500-800 million cubic feet
Well Cost (Vertical) - $450,000
Well Cost (Horizontal) - $1.1 million
Porosity – 4%
Gas in Place – 8 to 15 billion cubic feet per section ___________________________________________________________________

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Miller Energy Resources Adds To Chattanooga Shale Acreage

Miller Energy Resources (MILL.OB) closed on two purchases in June 2009 that added to its portfolio of assets in the Chattanooga Shale. Miller Energy Resources, also known as Miller Petroleum purchased East Tennessee Consultants.  The assets purchased include 377 natural gas and oil wells and approximately 5,000 leased acres located in the Chattanooga Shale in Tennessee.

The company also purchased Ky-Tenn Oil, Inc., a private oil and gas company, whose assets includes approximately 35,325 leased acres located in the Chattanooga Shale and 173 existing natural gas and oil producing wells. Miller Energy Resources said that there are up to 700 drilling locations on the newly acquired acreage. ___________________________________________________________________

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