3 oilwell on 77 acre lease 2 miles north of I-20 @ Waskom, Texas. Also adjoining 5 well lease cased holes only but has complete set tank battery and SWDW & tank, this lease is included because it adjoins and has the same roads and flow lines and ecl service.
All 3 wells full equipment, including pumpjacks and tank battery, 1 well completed.
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Project One: reworking a well casing. The well was producing at a rate of 120 BO per day when the casing collapsed with a projected reserve of 425,000 barrels of oil. Estimate Reserve = 425,000 barrels of oil Net Revenue Working Interest = 50% Net Revenue Interest (NRI)= 37.5% (50% x.75) Our Investment = $668,100 Our Share of Project Reserve...Bienville Parish, LA/Mill Creek - 100%WI
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There is a great opportunity that has come about. The owners of wells in Louisiana want out of existing production right now for P & A costs of about $100K. This is Bunchy Creek you have the package. You would only be required to put up a bond so if you can get the bond for less that $100k that is better This includes three wells producing...
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