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07 November, 2019

Project #9512 Summary

Read executive summaries on project 9512. 

If potential investors are interested in accessing more technical information, they can sign a confidentiality agreement and email it to the the owner to be granted access.

Short Summary

  

Here is a project that should interest any investor group.
A Houston based oil company owns a 960 Acre, already Unitized, Proven Undeveloped Oil Property in Louisiana.
Bob, the company president, is looking for a working-interest partner (About $6 million.) to help develop this property on a third-for-quarter industry-terms cost basis.
We will show your investor how lucrative it is to convert petroleum reserves from PUD’s to PDP (proven undeveloped to proven developed producing).
As you may know, banks will typically loan about 60% of PDP-10, and banks will not loan anything against PUD's.
You should convince your investor that this is arguably the best game in the oil patch.
Bob can convince any competent Geologist that he has absolutely proven-up about $2 Billion worth of Proven Undeveloped oil and natural gas reserves.
Bob will give your investor a full presentation but you will have to convince Bob to fly to meet with your investor.
A better plan will be for your investor to fly to Houston to meet all the people and see all the data.  We will also drive him to Lafayette to see the property and meet Bob’s Field Engineer and also talk to the landowners.
Bob has already spent more than $2 million of his own money for seismic, leases, geology, etc to prove that there are about $2 Billion worth of hydrocarbons on his leases.   This should assure your investor that Bob is certain about this project.
Bob will drill the first well adjacent to a old well that was drilled 40 years ago to a depth of 18,000 feet.  
This well logged an oil zone at 14,900 feet which, according to written records, their geologist interpreted the zone as being productive but only as somewhat marginal - so the company plugged the well.
If this Geologist would have had the advantage of modern technology, he would have discovered a major oil & gas field.
There are other wells in the area that are actually producing several hundred barrels of oil per day, with no water, from zones that have this same signature on the electric log.
Expected return on investment is estimated to be approximately 15 to 1.
Call me to schedule a meeting with your funding group.
David Mangum, PE, Geol, MBA
281-813-2707

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Confidentiality Agreement

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