United States, TX... Administrator Over the past year, we have been actively acquiring available leases in the Panhandle West Region of Texas, also known as the Permian Basin. Through strategic negotiations, we have secured hundreds of wellbores that have been abandoned, marginally producing, or in need of repair. There are thousands of existing wellbores like this throughout the area. With sufficient capital, we will create a substantial footprint of these wellbores, which after refurbishment, will provide the company with considerable cash flow and offer multiple advantageous exit strategies. Our initial target is 20,000+ acres and the accumulation of 1000+ wells producing approximately 3500 BOED (Barrels of Oil Equivalent per day). Given our advanced position in the field and our expertise, we can quickly implement our business plan and acquire additional acreage and wellbores. Since formation, we have prepared our policies and procedures to handle a platform to accommodate a 1000+ well operation. We have enjoyed some terrific early success, but with additional capital, the management team can accelerate the growth of our business. We have begun to build what will be a sizable footprint in a proven field. Currently, we own approximately 9,000 acres with 307 wellbores. There are 40 PDP (Proven, Developed, and Producing) wells and 267 PDNP (...
Chief Executive Officer