Lonestar Resources Ltd. (ASX: LNR, OTCQX: LNREF) has reached definitive agreements to acquire leasehold associated with approximately 6,122 gross/4,047 net mineral acres in La Salle County, Texas.
Lonestar's independent engineering consultants estimates that proved net reserves associated with these properties are 2.7 million barrels of liquids and 11.0 billion cubic feet of natural gas, or 4.5 million barrels of oil equivalent (MMBOE). Lonestar's third-party engineering consultants estimate that proved and probable net reserves associated with the purchase are 6.4 million barrels of liquids and 26.3 billion cubic feet of natural gas, or 10.8 MMBOE.
The addition of this leasehold adds 32 gross / 20 net horizontal Eagle Ford shale drilling locations to Lonestar's drilling inventory. At year-end 2014, Lonestar held interests in 143 engineered Eagle Ford shale drilling locations. This acreage is in two blocks and is in different parts of La Salle County, Texas.