Next Generation Energy Corp’s Pending Kentucky Mineral Rights ProjectThe Company has an pending project to purchase mineral rights in the Devonian Shale also located in Southeastern Kentucky. The property is in an area known for its prolific quantities of natural gas. The Company has engaged the services of a leading petroleum engineering firm to estimate the natural gas reserve on the land. Their reserve report concluded over 700 million cubic feet are in place.
Initial estimates indicate that between 80 and 100 wells can be drilled on this site. With the maturity of horizontal drilling technology it is expected that wells will produce significantly more production then previously drilled wells.