Our project gives investors a Membership Interest in two oil & gas wells located in Borden County, within Texas’ Permian Basin. The wells are located on a 2,120-acre lease, and we have rights to all depths, with an exciting stacked (3) pay zone opportunity.
All experts are predicting that the Permian will be one of the largest oil & gas reserve Zones in the United States. Large publicly listed companies, like Earthstone & SM Energy (1 mile from our project acreage) are securing leases/acreage, with recent transactions as high as 1.245 billion USD in August 2018.
This is a unique investment opportunity because substantial amounts of time and capital has already been invested in this project. We have Halliburton well logs and a 3rd party reserve report showing each well is estimated to produce 948,000 Barrels of oil.
We have successfully drilled, fracked and completed two oil & gas wells;
The Griffin well: 6,400ft vertical & 9,000ft horizontal leg
The Radmila well: 6,400ft vertical & 10,200ft horizontal leg
Between February-April 2019 new investors from the US and Australia (1st Round of capital raise) invested in both wells at the pre-production stage.
On the 5th June at 5:00 pm (TX Time) we commenced flow back and six days later (11th June 2019) we officially hit oil from both wells. This was a great sign, as most local operators have waited 2-3 weeks before they see oil. Every day we are seeing & reporting increased amounts of oil being produced, with the Radmila well proving that bigger is better (1,200ft longer leg) as of 22nd June, it has produced 131 more barrels than the Griffin well.
As of the 21st June, we are now raising an additional $2MM at the 1st Production Stage, which is to assist in paying some of the remaining drilling and completion costs. Until 5th July we have the ability for investors to secure an investment in the 1st two wells (1st Stage production) and still receive the accelerated monthly income structure.
All investors will receive passive and monthly revenue disbursements (MRD) for up to 30 years (estimated life of wells) or until we sell the asset (potential exit strategy). Based on the exit, all investors will receive a lump sum payment in ratio to their investment amount.
Update: On the 17th June 2019 we officially sold our 1st truck of oil (190 barrels).
Next Step: Now go on to the contact us page to either, ask a question or book a time to talk with one of our team.