This page updated 10/17/17
In January 2017, Daybreak acquired a 30% working interest in 1,400 acres in the Michigan Basin where we have two shallow crude oil prospects. The leases have been secured and multiple targets have been identified through a 2-D seismic interpretation. A 3-D seismic survey was obtained in January and February of 2017. An analysis of the seismic survey confirmed the prospect identified on the 2-D seismic, as well as identified several additional drilling locations. We will obtain an additional 3-D survey to better delineate the other locations before a drilling program commences. The first well is expected to be drilled during the first half of 2018. We plan to spend approximately $300,000 in new capital investments within the Michigan acreage area in the 2017-2018 fiscal year.