Zodiac Exploration Inc. is a well-financed, California-focused oil company. It has over $17M in uncommitted cash on hand and holds approximately 85,000 net acres in the prolific San Joaquin Basin where over 13 Bbbl has been produced to date, with over 3 Bbbl produced in the Zodiac project area. Zodiac's enviable resource position is validated by the some of the largest independent oil and gas companies in the U.S. (Occidental Petroleum Corp., Hess Corp., Aera Energy LLC, Vanaco), that have accumulated large project positions surrounding Zodiac's blocks. Zodiac has entered into a joint venture with Aera (an Exxon-Shell joint venture company), which is the largest U.S. private producer.
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"The icing on the cake is that Zodiac has tax pools that are conservatively worth $0.04/share. Therefore, the per-share value of the company's cash and tax pools are worth considerably more than the current stock price, and investors still get 78,000 highly prospective acres for free. The recent announcement that Western Energy Production LLC is pooling 10,000 acres with Zodiac is further evidence of increased activity and interest in Zodiac's holdings. Majors in the region, including Exxon Mobil, Royal Dutch Shell, Chevron and Occidental Petroleum are well aware of Zodiac. Zodiac is in discussions with multiple parties regarding further development activities."
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