Gulf Energy, Ohio Cumberland ink CBM pact - April 03, 2005

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2005

Vol. 10, No. 14

Week of April 03, 2005

Gulf Energy, Ohio Cumberland ink CBM pact

Harken Energy subsidiary Gulf Energy Management and Ohio Cumberland have signed an agreement to jointly explore and develop coalbed methane within the Cumberland Prospect Area consisting of about 400,000 acres in Guernsey, Noble, Muskingum, Washington and Morgan counties of Ohio, Harken said March 29.

Gulf Energy’s obligations under the agreement with Ohio Cumberland include financing all of the initial $7.5 million expense to carry out the joint exploration and development of the project in return for a 65 percent working interest in the Cumberland Prospect Area. The agreement also provides that Gulf Energy receive an 82.5 percent net revenue interest.

—Ray Tyson

Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.