AEZ: Oil Deposit Could Increase US Reserves 10x!!

This Thursday, April 10, the US Geological Survey will be releasing a report on the Bakken Formation which covers about 200,000 square miles in North and South Dakota, Montana, and Canada. AEZ owns about 87,000 acres gross, and about 32,000 acres net in the Bakken Formation. It is expected that the Bakken Formation could increase US oil reserves by about ten times. AEZ currently does not include the value of this formation. The higher the oil prices, the better it is to drill here since the oil is difficult to reach. However, several companies have found cost-saving tools and techniques to create man-made cracks in the formation which make oil flow out faster (http://video.aol.com/video-detail/parshall-is-oil-hotbed-in-nd/1241716403). Also, with oil prices around $100, it might be a good time to drill. The US Geological report will provide a valuation of the Bakken Formation Thursday, and companies like AEZ who have a stake in it will see their value go up.