6 days ago — Need investor/partner with $750,000 for Victoria County, TX redevelopment of producing 100 ac lease, approximately 8 to 9 month payback of investment. In an area where over 30 new horizontal wells drilled within a three mile radius of this lease in past 24 months. Is in old Heyser Field in Victoria County, TX, about 2 miles South of Bloomington that has produced over 200 million bbls oil. Property had 11 producing oil wells drilled and produced over one million bbls of oil prior to 1968. Been mostly abandoned since 1965 until 2008 when two new wells were drilled. Hard not to hit oil on the property since it is in the middle of the Heyser Field which has 14 producing zones.
All investment funds paid by new investor/partner planned to be used to upgrade the project versus into partners pockets. Investor gets 70% of the net revenues monthly until the $750,000 has been paid back, about 8 months and then WIO becomes 30% after payout. Two deals, 3 oil wells plus more reentries into old PA wells, new drilling infield as revenues come in, investor can invest or not in new projects. Second deal is the LoneStar SWDW, LLC that you will own 30% of and it could have a market value of over $5 million once we get thing producing.
Proven reserves, can pump 100 plus bbls a day from two shut-in wells by simply turning them on, expect another 35 bbls oil day from third well to be reentered. Will complete salt water injection well. Water hauling expenses make lease uneconomical without injection well completion. One well has 6% oil cut on up to 1,500 bbls fluid pumped per day. Second shut-in well makes 17% oil cut on 200 bbls fluid day. Expect 10% oil cut or between 35 and 50 bbls day from third well. Plan on 5 additional well re-entries for left behind reserves plus new in field drilling. Partner gets wellbore assignments via a Pugh Clause into the producing formations, can participate in all future projects subject to in or out selection in each well.
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