Solimar Energy Limited is a public company listed on the Australian Securities Exchange (ASX Code: SGY) and the TSX Venture Exchange (TSXV Code: SXS). The Company is based in Melbourne, Australia and has an operations office in Ventura, California, USA.
The Company is a growing oil and gas production and exploration company with a multi-project asset base focussed in the oil prolific San Joaquin Basin, onshore California.
The Company's assets are mainly in oil prone trends adjacent giant fields and target both conventional (sandstone) and unconventional (fractured oil shale) reservoirs.
The Company is already one of the largest acreage holders in the emerging Kreyenhagen oil shale trend in the NW San Joaquin Basin.
Solimar is embarking on an active work program to convert the large oil and gas resource potential within its acreage to reserves.
The Company operates most of its assets, holding high equity positions. This includes a control position in the Kreyenhagen oil field which is a known, shallow oil accumulation with signficant volumes of oil intersected by numerous wells within the Company's control acreage.
In many cases Solimar will be the first oil and gas Company with the opportunity to apply modern drilling, completion and production technologies to unlock the potential in the acreage portfolio it has secured.
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