CALGARY, Alberta – Saskatoon-based Next Millenia Energy Inc. (TSX: NME) has recently acquired surface rights in 87 townships in the WCSB, planning a very unique oil and gas play. In anticipation of future oil and gas pool and trap development, NME is going to place downhole equipment on risers and scaffolding, on site. In 60 to 75 million years, NME hopes to produce from these sites which are then believed to be buried and filled with productive oil reservoir rocks.
Geological studies and modern play development have given NME the tools required to predict orogeny, subsidence zones, seismicity, and even fair predictions of erosional accommodation space and deposition, based on ancient analogs.
Hugh Jasperations, NME
“We feel that if we can look at the ancient and its modern analogs to discover and produce existing oil and gas fairways, we can use it in conjunction with AI modelling to predict where they will occur in the distant future, and set ourselves up for incredible success thousands of generations from now. ” – Hugh Jasperations, Next Millenia Energy Explorationist
The process from “spud” to “abandonment” is simpler than it is now. Place the downhole equipment in the correct orientation now, and as the Earth evolves over millennia, add casing and cement as required, until such a time when a reservoir has developed around the original equipment, and turn it on. While it takes time, it is a sound concept.
“We have had investors leave our project when presented with the timeframe for economical returns, but we are so future focused we just bring in new money with a mindset similar to our own. Planning for the future in this capacity is something we are pioneering. We even have succession plans setup for senior management that spans many, many, many generations.” – Michael Moneygonne
Any equipment placed now is also being guided by aesthetic regulations in each county or rural municipality, as not to upset local landowners or residents. Initial costs are expected to be between $25.6M and $27.2M dollars, with per decade cost of adding infrastructure between $250,000 over the entire project. Capital is being raised through private shareholder investment, while NME is also inquiring about long term capital loans in various jurisdictions.
