Infinity Energy Resources, Inc. ("IFNY") is a natural resources exploration and development company with oil and gas concessions covering 1.4 million acres offshore Nicaragua in the Caribbean Sea. The Company’s concessions are located adjacent to Noble Energy’s (NYSE: NBL) 1.8 million-acre offshore concessions, which have been estimated by Noble to potentially contain 2.7 billion barrels of oil. Noble has recently commenced drilling.
To date, reprocessing and interpretation of previously collected seismic data by independent engineering consultants has identified four prospects, covering a total of over 547 square miles in shallow waters along the Nica-Tinkham Ridge beneath IFNY’s concessions. These consultants have calculated that the potential oil resources present in these structures in the Eocene geologic zone alone could approach 10 billion barrels. IFNY is currently seeking a partner to provide the financial, technical and operational resources to explore and develop the concessions.