140 Acres 100% WI / 87.5% NRI.

1 fully equipped and operational oil well.
1 open hole well that is full of oil.
1 100 barrel oil storage tank.
Exceptional Drilling Opportunity.

The land owner tells us that the equipped and operating well makes about 1.5 barrels of oil per day.

The second well had a history of making about a barrel per day but needs to be re-equipped.

This lease abuts a lease that had a well drilled on it in 2012 that came in at nearly 1,000 barrels per day.

The two existing wells on our lease are not close to this big well. At the new owners discretion, we can drill a new well that would be only about 1500 feet from the 1,000 barrel per day well on the neighboring property.

This 140+/- acre lease is for sale for just $88,000 and will be held by existing production.

The new owner would have several viable options:

1. Complete the second well that will give us an additional barrel of oil per day. Estimated Cost $36,000

2. Drill and complete a new well at the nearest possible location to the 1,000 barrel per day well. We would hope to see production from this well at over 100 barrels per day. Estimated Cost $110,000

3. Since the lease is already held by production the new owner would also have the option of just holding the lease while waiting for higher oil prices and then consider options #1 and #2.

Either way this lease is a great deal at just $88,000.

Posted Jul 24, 2016

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