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Prolific shallow well drilling project

Project No: #18546
Capital needed
USD 750,000
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Minimum investment per investor: $25,000
Country: USA
State: Texas
Reason for needing Capital: Other
Stage: In Operation/Selling
Ideal Investor Role: Indifferent
Highlights: Low risk, good return, additional drilling on acreage in this zone and others. Cost is $25,000 per 1% Working Interest and .75% Net Revenue Interest, giving projected return of $2,300 gross based on 1% W.I.
What you offer to investors?: If all seven wells do 30 barrels of oil average a day, projected gross return would be about $2,300 plus per month. With the water injection into the Upper Tannehill zone, there should be a push on upper Tannehill wells, and return could be much greater.

1,000 acre lease with 6 additional wells to be drilled in a 160 acre area of prior production.  2,000 feet wells, one well on and one permitted disposal well.  Wells do from 26 to 38 barrels of oil a day and 32,000 to 50,000 barrels of oil overall.  Investment is in the lease with purchased percentage right of refusal for future projects.  Lease development.  I am an Oil and Gas Operator with the Texas Railroad Commission.  I have a contract with Sunoco for the sale of the oil and now need to drill 6 additional wells in the 160 acre area of prior production.  Satellite tests have been done so that drilling sites are documented.  All technical support information is available by email upon request.  Zones in this project are Lower and Upper Tannehill, which is a sand formation river of oil which repletes itself.  One other zone has shown up in the tests and is below the Tannehill.  It looks good where the second well will be drilled.

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