Plans are to re-enter a plugged well, and put back on production. The well was plugged because of a casing leak. The potential is 100 BOPD, and reserves are estimated to be 500,000 BO. The oil sand is Lower Tuscaloosa at a depth of 11,200 feet, and is in a proven reservoir, 50 feet high to producing, down-dip, wells. The cost is $285,000 to re-enter and test, and $207,000 for surface facilities.

Possible payout to partners in 7 months at $45 oil.

This deal is economical and low risk!

Posted Aug 31, 2016

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