The Asphaltea property consists of two initial prospects and four prospective highly fractured zones that target the Monterey Shale.

The property is located close to existing infrastructure and existing Monterey Shale oil production. In a report dated June 1, 2011, an independent third party GLJ Petroleum Consultants indicated that there were 2.3 billion barrels of OOIP and 109 mmboe (91% oil) of prospective resources at Asphaltea. There are currently 26 wells permitted at the Asphaltea project.