Chocolate Flats Petroleum, Inc., an Environmental Exploration and Production company, has completed an extensive three-year Forensic Geology, Forensic Engineering, Forensic Petrophysics, and Forensic Environmental review, with new remote sensing & data acquisition to underpin critical knowledge of an underexplored region within the Forest City Basin & Mid-Continental Rift Basin (Iowa Shenandoah Sub-Basin depth 32,000'). The company has scheduled to spud the first of two deep wildcat wells on a four-way anticline horst and stratigraphic trap during the August 2017 Solar Eclipse, followed by an advanced environmentally friendly carbon negative development and recovery plan. These wells will be testing the 2012 official publication by Dr. John Paul Pope, Professor Northwestern Missouri State University "Description of Pennsylvanian Units, Revised Stratigraphic Nomenclature, Reclassification of the Morrowan, Atokan, Desmoinesian, Missourian, and Virgilian stages in Iowa", in addition to other deep targets yet to be disclosed.
The company will be conducting onsite university studies, training and contributing an initial 25% NRI of each wildcat exploration well to a charitable trust established by the company to aid underfunded regional K-12 education, university scholarships, support for police, fire, medical and military who give their lives to the communities they protect, in addition to economic development, environmental and community support and training.
"Regulations or No Regulations!" said Jeff O'Neal, CEO. "We're launching an unprecedented Zero Discharge, Zero Pit, Zero Waste, Zero Flare, Zero Haul Off, Zero Emissions, integrated carbon negative extraction system designed with 100% recycling of all waste streams. At the end of the day, it's not solely about climate and the environment, we all have a personal responsibility to do what's right and the probability is high for a major first time discovery for Iowa with a target per barrel cost below $10. I'm thankful to have been given this opportunity to do this and to be working with the State of Iowa, the Iowa Department of Natural Resources, the American Petroleum Institute, and the Department of Energy on such a historic exploration."