Seeking Accredited Investors only. 1031 exchange rules can apply. Executive Summary available upon our due diligence.
OVERVIEW: a privately owned exploration and production company based in Houston, Texas for over twenty five years. Through a series of partnerships expending over $180MM, we has become one of the largest generators of conventional oil and gas prospects operating in the Gulf Coast.
Over the last 2 years we have assembled a portfolio of prospects consisting of several of the largest undrilled features remaining on the onshore Gulf Coast. This portfolio of geologically and geographically diverse prospects consists of 15 low to medium- risk, large reserve prospects all located onshore USA.
In aggregate, these 15 prospects fully developed have a risked future value of $4.39 B with a risked PV10 of $2.73 B.
STRATEGY: Over the last several years the energy industry has increasingly concentrated on the unconventional resource plays with the onshore conventional arena being largely if not completely ignored. We took a contrarian viewpoint deciding to focus all efforts on assembling an onshore portfolio of large to giant conventional prospects. We strongly believe the onshore USA conventional prospects to have the best economics in the energy sector, far superior to the resource plays, and the offshore GOM, without the costs, problems, and sovereign risk associated with international E&P ventures.
CAPITAL REQUIREMENTS: We desire to raise approximately $125 MM To fund the lease acquisition, reimburse seismic costs and to drill an exploratory test on all 15 prospects.
The cost to secure all 3-5 year leases on all 15 prospects will be approximately $12 MM. The actual 2D and 3D seismic costs expended to date are $11 MM. The remaining monies will be required to drill a test well on each prospect.
Deal Structure: The Investor group shall be entitled to 100% of all revenues on a prospect by prospect basis with us backing in for a 25% working interest on each discovery after payout.
Not interested in Capital Groups. Thank you.

Posted Sep 21, 2016

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