Key Exploration executed its first leases (subject to two-year seismic options) in February 2021. Since that time, Key and East Texas Energy have continued leasing in Cherokee County, with the total gross acreage to date exceeding 55,000 acres.
The total cost so far of seismic work, title work, and lease execution has to be well over $10 million.
Anybody have any ideas about who the E&P company is for this project? Pretty unusual to be three years into a project and not see any assignments or drilling permit filings.