Description

Oil and gas operating leases and other assets. The leases cover three major fields in the Eastern Shelf that comprise more than 9,000 acres with 90 wells. Current production from the wells is approximately 1,000 bbls. of oil per month and 8,200 MCF of gas per month. The current production is only from an estimated 13 out of 90 wells situated on the properties, the remainder of which are inactive or plugged. As the wells are located in a known productive region it is believed that with reasonable investment and management the remaining wells may also become productive.

Acquisition of these leases provides a potentially excellent opportunity for a buyer to obtain attractive oil and gas assets in a prime location. The wells have a known history and geology with predictable operating expenses. Proven recoverable reserves in the region are also well known. Through application of appropriate investment and management a buyer has a potential opportunity for achieving an attractive investment return.

Posted Nov 1, 2016

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