Where is Anso and What Makes it Special?

ansoANSO is located in Delarna, central Sweden, where gently rolling hills, deep forest and many lakes have created a popular summer vacation area.

This part of Europe is famous in geological terms, due to the Siljan Ring Structures, which are easily visible from space, and create a massive group of circular features on the landscape. The Siljan Ring Structures, located in Delarna – central Sweden, are believed by many to have been created 377 million years ago when a meteorite collided with the earth, causing a crater (astrobleme) and major faults 20 km deep or more. The significant hydrocarbon shows across the region, including within wells nearly 7 kilometers deep, are widely assumed to be from the thin and patchy limestones that ring the main feature.

At IconOil, our experience in Canada with similar features below the world’s largest oil deposit helps us to see that the common old fashioned views are wrong. These ring structures are exhalative deposits (gastroblemes) – formed during highly energetic eruptions which leave fractured craters that bleed oil, gases, and dissolved metals from deep within the Earth.

Who First Recognized the Opportunity?

Three hundred years ago, devoted amateur botanist, Carl Von Linne recognized oil tracks in the limestone while classifying Swedish flora. Since that time many local anecdotes attest to the presence of gas and oil.von-linne

Twenty-five years ago, the famous astrophysicist Thomas Gold estimated that fractures below the Siljan Rings reached down more than 40 km into the earth. Based on his observations of large volumes of hydrocarbons in outer space and on other celestial bodies, he correctly assumed that earth must have significant hydrocarbons hiding deeper in the rock, which come up through deep fractures.

Gold convinced a state-owned corporation to drill 2 deep wells. Oil, natural gas, hydrogen, noble gases, and metals were abundantly discovered. However, the methods of well completion and testing dampened their flow rates partly owing to the technology and interpretation limitations of the day.

Despite exploration success, and despite currently active oil and gas seeps at the surface all across the region, much of the excitement eroded when the economics of commercialization were pronounced unclear in an official 1991 government report.

igrene-iconoilIn 2002, local energy consulting company, AB Igrene began exploration and research of geothermal energy in the Siljansringen. While drilling their first thermal well in 2008, Igrene encountered gaseous hydrocarbons (methane, etc.) that permanently flowed from boreholes. With local support and collaboration, Igrene shifted its focus to the extraction of gas and obtained exploration licenses for areas totaling 53,000 hectares within Siljansringen.

In 2015 ICONOIL investigated the techniques used for drilling fractured granite reserves in Sweden. The company concluded that the Siljan Ring discovery wells were mishandled and misinterpreted. For example, heavy mud used for drilling plugged fine grain fractures and prevented low pressure flows. Excessive amounts of concrete were used around the borehole and casing.

What Assets and Knowledge have been acquired to date?

In 2016 ICONOIL began to collaborate with IGRENE, the Swedish public gas company that is attempting to develop a commercial natural gas business. The two companies participated in strategic planning, financing, well drilling plans, equipment and land acquisition.

In the summer of 2016 ANSO was established, as, a separate and private Swedish oil and gas company, part of ICONGROUP.

ANSO has also acquired a land base similar to IGRENE .ANSO has also been negotiating access to IGRENE lands, especially for oil and helium extraction.

What are the next steps?
  1. Consolidate the ANSO team and Business Plan.
  2. Finalize negotiations with IGRENE on possibilities for joint exploration and land sharing.
  3. Begin well drilling.
  4. Sell oil locally, and move oil by truck and train to the Gothenburg Energy Port.
  5. Begin extracting helium.
  6. Prepare a European marketing plan.
How profitable is the Anso forecast?

With land equivalent to IGRENE and  joint access, and with the added benefits of helium and oil production, ANSO valuation in 2018 should equal the IGRENE current market cap (~$ 19M USD).  
Forecasted annual gross sales exceed $1B USD.

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