-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q4bH2kdOhn2/dCxS0c2BMVLVyz07Nx6MRmtrMGdSzjVBWsbYsvgdHYO7QxSMKnfI 5B8xijH204MHhguv6fhBCg== 0000950134-07-000882.txt : 20070119 0000950134-07-000882.hdr.sgml : 20070119 20070119165330 ACCESSION NUMBER: 0000950134-07-000882 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070119 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070119 DATE AS OF CHANGE: 20070119 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BASIC EARTH SCIENCE SYSTEMS INC CENTRAL INDEX KEY: 0000010254 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 840592823 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-07914 FILM NUMBER: 07541352 BUSINESS ADDRESS: STREET 1: 1801 BROADWAY STREET 2: SUITE 620 CITY: DENVER STATE: CO ZIP: 80202-3835 BUSINESS PHONE: 3032963076 MAIL ADDRESS: STREET 1: 633 SEVENTEENTH STREET STREET 2: SUITE 620 CITY: DENVER STATE: CO ZIP: 80202-383 8-K 1 d42900e8vk.htm FORM 8-K e8vk
 

 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 19, 2007
Commission File Number: 0-7914
BASIC EARTH SCIENCE SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
     
Delaware
  84-0592823
 
   
(State or other jurisdiction of incorporation or organization)
  (I.R.S. Employer Identification Number)
     
1801 Broadway, Suite 620
   
Denver, Colorado
  80202-3835
 
   
(Address of principal executive offices)
  (Zip Code)
(303) 296-3076
(Registrant telephone including area code)
Check the appropriate item below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 8.01. Other Events and Regulation FD Disclosure
On January 19, 2007 Basic Earth Science Systems, Inc. issued the press release attached as Exhibit 99.1 providing an update on its Christmas Meadows prospect in Summit County, Utah.
Item 9.01. Exhibits
     (C) Exhibits.
             
Exhibit No.   Description    
       
 
   
  99.1    
Press Release dated January 19, 2007
   
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
         
  BASIC EARTH SCIENCE SYSTEMS, INC.
 
 
Date: January 19, 2007  By:   /s/ Ray Singleton    
    Ray Singleton, President   
       

 


 

         
     (C) Exhibits.
             
Exhibit No.   Description    
       
 
   
  99.1    
Press Release dated January 19, 2007
   

 

EX-99.1 2 d42900exv99w1.htm PRESS RELEASE exv99w1
 

Exhibit 99.1
NEWS RELEASE
Basic Earth Nearing Objectives on Christmas Meadows Prospect
Denver, Colorado, January 19, 2007 — Basic Earth Science Systems, Inc. (Basic) (OTC:BB BSIC) reported that Double Eagle Petroleum Company (DBLE), its partner on the Table Top Unit #1 well at Christmas Meadows, was at 14,388 feet and drilling ahead at 4 AM on January 18, 2007. The Greater Green River Basin plate was penetrated at a depth of approximately 13,400 feet and approximately 718 feet of Hilliard Shale was drilled before the top of the Frontier Formation was noted. The Frontier formation and the first Frontier sandstone appear to have been encountered at 14,118 feet and 14,240, respectively. Based on this, the top of the Frontier Formation is approximately 3,000 feet structurally high to the stratigraphic equivalent in the 1975 American Quasar Cow Hollow Unit #1 well where the first Frontier sandstone was seen at 17,160 feet. The Cow Hollow well is eight miles to the northeast of the Table Top Unit #1 well and is the closest well that penetrated the Green River Basin plate. In addition to its advantageous structural position, the first Frontier sandstones, siltstones and coals in the Table Top well have small gas shows with positive evidence of hydrocarbons as indicated by the presence of “fluorescence and cut”. However, with only drill cutting samples on which to base an opinion, these sandstones appear to be clay filled and tight.
Within the next few days, the second Frontier sandstones are expected to be encountered at approximately 14,750 feet in the Table Top Unit #1 well. The Cow Hollow Unit #1 well had oil shows in the second Frontier sandstones. That well, structurally low to us, was deemed not to be capable of commercial production. However, elsewhere within the Greater Green River Basin, these sandstones are excellent producing reservoirs, especially on the Moxa Arch that is approximately thirty miles to the northeast of the Table Top.
Basic has a 2% working interest in this well which is expected to cost approximately $16,600,000 or $330,000 to Basic’s interest. The 16,000 foot wildcat, spud on September 8, 2006, is expected to reach planned total depth by mid-February 2007.
“With the Table Top Unit #1 well running structurally high to the nearest well penetration and hydrocarbon shows present in the first Frontier, we are reducing the many risk factors we originally faced last September when this well was begun,” commented Ray Singleton, President of Basic. “A number of geologic factors still remain to be determined; good porosity development in the second Frontier or Dakota sandstones are primary among them. In any case, the next few weeks should end the speculation on this decades old project. It goes without saying that we have high hopes for this venture and that the outcome could have a positive impact on the Company. However, our primary focus is on our core areas in the Williston Basin; our Banks Prospect foremost among them.”
Basic is an oil and gas exploration and production company with primary operations in select areas of the Williston basin, the Denver-Julesburg basin in Colorado, the southern portions of Texas, and along the on-shore portions of the Gulf Coast. Basic is traded on the “over-the-counter — bulletin board” under the symbol BSIC. Additional information about Basic Earth Science Systems, Inc. can be accessed via the Company’s web site at www.basicearth.net.
Information herein contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as “should,” ”may,” “will,” “anticipate,” “estimate,” “intend” or “continue,” or comparable words or phrases. In addition, all statements other than statements of historical facts that address activities that Basic intends, expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Basic, particularly the Company’s Quarterly Report on Form 10-QSB for the quarters ending June 30 and September 30, 2006, in addition to the Company’s Annual Report on Form 10-KSB for the fiscal year ended March 31, 2006, for meaningful cautionary language disclosing why actual results may vary materially from those anticipated by management.

 

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