Texas Oil & Gas Company Seeks up to $37 Million for Leases and Production

Texas oil & gas company seeks $750,000 in startup capital and $37 million total funding to acquire and develop high-quality leases in a South Texas area that has significant proven and probable oil reserves.

• Startup funding: $750,000
• The company plans to execute 2 prospects with a total investment of $37,117,500
• Deep Unit Play: 5 wells at total cost of $25,685,000
• Oil Play: 5 wells at total cost of $11,432,500

“Deep Unit” prospect in South Texas is primarily a deep gas production prospect supported by 3D seismic survey.

• Our plan consists of leasing 3,000 acres and purchasing seismic license to conduct geological and geophysical surveys. Utilize survey data in determining five (5) optimal drilling sites. Drill and complete five (5) “deep” wells to produce gas & condensate.
• The total estimated prospect reserve: 2,190,000 BC and 95Bcfg

“Oil Play” prospect in South Texas is primarily a shallow oil and gas production prospect supported by 3D seismic survey data.

• Our plan consists of leasing 3000 acres and purchasing a seismic license to conduct geological and geophysical surveys. Utilize survey data in determining five (5) optimal drilling sites. Drill and complete five (5) wells to produce oil and gas.
• The total estimated prospect reserve: 2,057,143 BO and 1.825 Bcfg