The company will lease three 80 acre oil properties, which are located across from the Dickerson lease properties. A radiometric analysis has indicated significant amounts of hydrocarbon on the properties, the company said. Initially, Timberlake Energy plans to commence drilling on five wells.
Timberlake Energy is focused on purchasing abandoned or under valued oil and gas leases in the US. The company said that the oil and gas wells are refurbished and outfitted with the latest in oil and gas recovery equipment.
Timberlake Energy operates exploration projects through joint ventures in the Appalachian basin and owns interests in a number of petroleum and natural gas leases in Lambton and Kent Counties, Ontario. In addition to its main operating focus, the company also explores projects in the Appalachian and Michigan basins.