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 three 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 time and capital have already been invested in this project. We have Halliburton well logs and a third party reserve report showing that 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: 6,400 ft vertical & 9,000 ft horizontal leg
The Radmila well: 6,400 ft vertical & 10,200 ft 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 June 5th at 5:00 PM (CST) we commenced flow back, and six days later (June 11, 2019) we officially hit oil from both wells. This was a great sign, as most local operators have waited 2-3 weeks before they saw oil. Every day we are seeing & reporting increased amounts of oil being produced, with the Radmila well proving that bigger is better (1,200 ft longer leg) as of June 22nd, it has produced 131 more barrels than the Griffin well.
As of the June 21st, 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 July 5th, we have the ability for investors to secure an investment in the first 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 June 17, 2019, we officially sold our first truck of oil (190 barrels).
Next Step: Go to our “Contact” page to either ask a question, or book a time to speak with one of our team members.