Details - Information last confirmed on September 3, 2020
South Central Texas 120 Well project
Amount of Capital Required: $5,000,000 in first round and $15,000,000 second round funding
The producing wells that we are going to acquire are producing $80,000 a month Net currently. Out of the 113 Oil wells and 7 Injection wells on this site, only 40 are producing currently. The other oil wells need minor mechanical work to bring them back online or back to full operation. After all wells are back up to full production we will then drill down to the next formation and do a dual completion, the income will be approximately $400,000 Net per month.
Reserves The reserves of this site are significant at 2.3 Million BBL (See Reserves report). In addition we have multiple zones to pull oil from. The oil that is recovered sells at (+) $5 per BBL
If you require any additional information, please do not hesitate to contact me. If there is a serious buyer then they will provide financials- POF.
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