Posts Tagged ‘Shut in Wells’

Gulf Coast Well Workover Program – #9022

December 29, 2008

A group of highly qualified engineers, geologists, and electrical log analysts have united to form a new oil company to re-enter shut–in wells along the Gulf Coast and produce the oil and gas that was left behind by the large oil companies. Two of these engineers are former Schlumberger Engineers. The President of the company wrote the training manual for Schlumberger on how to find oil from old electric logs. The Company also has a logging tool that can find oil behind pipe that cannot be seen with standard logging tools. Funding in the range of $50 to $800 million will be required to purchase the remaining Proven Developed Producing reserves (PDP) in mature oil and gas fields, each of which will be structured as a separate LLC. The purchaser of these currently producing reserves will receive a good Rate of Return while the Company will use money from its $5 million Private Placement Offering to increase the production from these old wells. Smaller investors may participate directly in the Private Placement Offering for a minimum of $100,000.

Please contact us if you would like more information on this project.