Have A Very Unique Prospect That Has An Interesting Story. This Prospect Is Located In A Somewhat Under-Explored Area Of West Texas About 120 Miles East Of Lubbock And About 240 Miles West Of Dallas In Cottle County. The Area Around The Prospect Had Been Leased In The 1970S By Exxon Usa. Plans Were To Drill The Reef About A Mile From The Prothro Field Discovered In 1974 (650,000 Barrels). But The Prime 320 Acres On Top Of The Structure Was Never Able To Be Leased Until Just A Few Years Ago. Then Oil Prices Crashed Creating Another Delay.
This Prospect Is Worth Drilling And With Greatly Reduced Exploration Costs.. It Still Makes Sense And Could Be A Game Changer For Risk Takers.
Here Are The Highlights:
1. Exxon Usa Wanted To Drill In Mid 70S Never Could Get Key Acreage
2. Two Million Barrel Potential - 100 To 1
3. Very Cheap Exploration - 4500 Foot Test - $232,500 - $51 A Foot To The Tanks
Key Acreage - $80,000 - ( 50 Miles Of Seismic -From Library - $70,000 -Optional)
4. 25.00 % Carry To The Tanks On The First Two Wells - Heads Up After That.
5.Retired Exxon Usa Geologist In Midland Available-(Worked On Prospects Around Our Location)
6. Onsite Local Operator -35 Yrs Experience In Paducah,Texas 10 Miles Away
7.These Virgin Reefs Could Come It At 300 To 500 Barrels A Day In Either The Cisco At 3450 Feet
Or The Canyon At 4350 Feet. Potential For A Quick 40 To 50 Day Payout.
8. Activity And Show Wells Around The Prospect. One Mile Away Is The Prothro Field
That Has Produced 650,000 Barrels From The Canyon Reef At 4350 Ft To 4478 Ft
9. This Reef Has Been Aging Like Fine Wine Waiting For Someone To To Take A Risk And Test It.
If You Are Looking For A Company Maker This Could Be It. Shallow Low Cost Conventional Exploration That A Major Player Had An Interest In At One Point. For One Reason Or Another This Prospect Has Not Been Drilled. This Is A High Risk Very High Return Wildcat Worth Considering.
Call And E Mail For Additional Information.
Wildcat Oil And Gas Exploration Is Considered High Risk And Can Result In 100% Loss Of Invested Capital. This Prospect Is For Oil And Gas Exploration Companies Or Industry Players That Understand The Inherent Risks And Rewards Of Wildcat Oil Exploration.
Asking Price $302,500
Sales Available On Request
Profit Available On Request
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Disclaimer: MergerNetwork has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.