Description

Seeking a trading shell for equity.
20 Acres Of Land in Los Angeles county with 6 capped oil wells and gas minerals.
Free & clear. 6 Plus idle wells & Natural gas.
102 years of production history.
Value $60 Million Richest in Oil & gas minerals with 102 years of production history & other minerals
These wells are all grand fathered in dated 1850's
·No current Production
·Most recent appraisal $74 million for the oil reserves only not including the land, Gas & other mineral values
Natural Gas will bring additional value & according to geological surveys, these properties contain more natural gas than oil.
·There is a huge lake underneath this land
·Visible Gas bubbles 24/7

Production History
Well History certification reports dated 2009 & Log/Core records from State of Ca/Dept of Oil & Gas dated August 24, 1981 price of oil was $12 per barrel. Wells were closed with up to 70% hydrocarbons left underground.
Only State of Ca estimates of BOE/acre foot. No current 3rd party reserve report & No estimate of the the cost to drill,LOE, complete supported by engineering study.
Well Summary Reports filed with the Dept of Oil & Gas until 1982
Several other reports filed in 1970
Production report History filed with Division of Oil & Gas filed Aug 28th, 1981
Properties operated by numerous Oil companies including Texaco Oil -
2 2/1 barrels per day by Union Oil - page 71
2 1/2 barrels per day average -page 70- 520 feet deep by Cherokee Drilling Co
Page 68- Clark & Sherman discovered traces of white oil-
2 1/2 barrels per day report files by Charles Townsend filed in November 1982
2 1/2 barrels per day averaged back in 1902 in very shallow wells about 520 feet Page 68- Operator Freeman & Nelson-
Furnished fuel oil for drilling rigs from 520 feet deep wells
Considerable Gas Findings -page 57

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Posted Jan 3, 2016

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