Bald Eagle Energy Inc. (BEEI.OB), based out of Houston, is an oil and gas exploration company specifically formed to address America’s independence on foreign resources. While domestic energy companies produce 5.1 million barrels of oil per day (MMBOPD), US consumers use 20.7 MMBOPD. The current 15.6 million barrel shortfall is the gap that Bald Eagle is committed to reducing by tapping into the energy resources found in Alaska.

The North Slope Basin is known for its abundance of hydrocarbon with an estimated 27 billion barrels of discovered recoverable oil (BBO) and 52 trillion cubic feet of recoverable natural gas (TCFG). Compared to other parts of the US, the region has a low exploration-drilling density and is under-explored.

Bald Eagle entered into an agreement on April 18, 2008 to acquire a 100% working interest in six separate leases located on the Alaska North Slope. The company’s leases cover 18,418 acres located east of the Arctic Fortitude Unit and south of the Prudhoe Bay Unit. The Prudhoe Bay Unit, which is operated by a partnership between ExxonMobil, ConocoPhillips, and Chevron, is the largest oil field in North America and has produced in excess of 10 billion barrels of oil.

According to a LAPP Resources, Inc. geological report in April 2008, the proximity of the Bald Eagle leases to Prudhoe Bay would indicate that it is highly likely that the area should produce further conventional oil and gas pockets. The report stated further that if new oil fields were discovered, Bald Eagle may find up to 90 million barrels of recoverable oil. Based on an average of $60 per barrel, the potential value of the six lease sites would be up to $5.4 billion.

As the properties are located within several miles of the Trans Alaska Pipeline and the Dalton Highway, Bald Eagle can more conveniently ramp-up and develop the six properties. Although the LAPP Resources report did not evaluate the finding of any potential natural gas resources, the Bald Eagle sites are also close to the state’s proposed natural gas pipeline.

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