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Rediscovering Conventional Oil


Project No: #19634
Capital needed
USD 2,000,000
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Minimum investment per investor: 5000
Country: USA
State: Texas
Reason for needing Capital: Working Capital
Stage: In Operation/Selling
Ideal Investor Role: Indifferent
Highlights: ●Owns controlling interest of a publicly traded Company

●The Company is currently working with an Investment Bank for $5 million in additional funding.
●Current oil and gas reserves under management/control exceed $200 million.
●Common Shares were sold publicly at $1.60 per share.
What you offer to investors?: 5 year Convertible Secured Bonds bearing 10% interest paid quarterly. May Convert after 1 year to 5,000 shares common stock
Business plan:
Executive summary:
Additional documents:


Short Summary


South Plains finds abandoned, orphaned
& neglected oil properties & successfully develops them. Company
has acquired controlling interest of a US Publicly traded company.;
Acquired approximately $6mn+ in Interests & 50+ development sites
plus existing wells; Already raised $500k+



Highlights
Return on Bond Investment Expected to be over 400%; Form C filed with SEC & Common Stock sold at $1.60 per share; Closed on $6 Million worth of wells & properties May 2019;  Owns controlling interest is US Publicly traded oil company; Already raised $500k+

The Business

South Plains Petroleum, Inc. is an oil and gas producer which takes advantage of chaos.



Opportunity:

The oil price roller coaster caught many off-guard resulting in
thousands of good wells being abandoned, neglected or orphaned to the
State due to a lack of funds/bankruptcies.



Solution:

By re-evaluating public data on these type properties, we ascertain the
likelihood and amount of oil and gas reserves which may be left behind.
Once identified, we acquire the properties/wells for little or no money
thus exponentially increasing our return on investment as we have
bookable reserves almost immediately. Cash flow may be established in
some cases by simply turning on the electricity or opening a valve to
sell gas.

The Market

●Mr. Boatwright recently met with the
Louisiana Oil Conservation Commissioner who stated there were over 3,900
orphaned wells in Louisiana. Texas has more than that in just a few
districts.

●There are over 1,500 Orphan wells within 100 miles of our offices in
Abilene, Texas where we have a track record of success and are very
familiar with what produces, what will most likely result in success and
what won't. This number doesn't include neglected or shut in wells.

●30% of these are candidates. Information regarding nearby well
completions, subsurface mapping, production history, site inspections,
equipment lists and salvage values all contribute to the decision making
process.

●We have the same scenario where we operate in Louisiana!




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