The AMI 1 property is located in Kern County of the San Joaquin Valley, California. The Company currently has an interest in 3,762 gross acres (2,822 net acres) of undeveloped land in the AMI 1 property.
At the current time, no further information is available regarding the AMI 1 property as the Company is actively exploring and identiying the multi-zone oil potential of the prospect. Underground Energy is continously acquiring additional acreage, well and 3D seismic data, and evaluating the net asset value at all of it's prospects, including the AMI 1 property. Strategically, the Company has taken the position to limit the disclosure regarding some of it's properties to ensure ample opportunity to assess the surrounding capabilities while protecting the Company's interest.