Business Summary:
TURNKEY OPERATION! ABSENTEE OWNER. Oil Leasing Rights with Net 66% Working Interest. 750 acre site with 43 oil wells, 12 water injection wells, 2 water supply wells. Current production is 90+ BPD and increasing as production settles in with water flood taking effect. Production expectation 120-150 BPD in 3-4 months time. Current Independent Contractor on site to maintain existing wells & drill 200 new wells at owner's expense. HUGE 85% IDC tax credit from IRS 1st year. Cash flow calculated at $90 oil.
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