Business Overview:
Great opportunity to own a piece of 2 oil wells , 1 was drilled in 1999 the other in 2004 , on a 13,000 acre Texas ranch . The property has been producing large amounts of natural gas since 1930 and holds 10's of millions of barrels of oil . The old drilling company tried completing a zone in each of these 2 wells which historically is not an oil producing zone in the area , while ignoring the 2 zones ( the Austin Chalk & Buda Lime ) which since the 1920's have each produced over a BILLION barrels of oil.
After a small amount of work on the well drilled in 1999 was turned on June 21 and produced 9 BO (barrels of oil) , June 22 was 13 BO, June 23 it produced 27 BO all from the AUSTIN CHALK zone . The was shut down in preparation for some major work including a large frac job after which the company believes this is a 100+ bopd ( barrels of oil per day ) well. It was recently turned on , July 13 , and produced 32 BO in just 17 hours so this is already a 40+ BOPD well and by itself worth over $1.5. mil .
The second well will also go through a major work-over / frac job and is also believed to be a 100+ BOPD well. You can buy 5% ownership in these 2 wells for just $140,715 , at 100 BOPD production ( $70 avg oil price ) a 5% owner would make approx. $9k-$10k a month , PLUS , you get the tremendous tax write-offs . You can keep your job since this is all absentee run on your end , the oil company runs it all . This is about 1/4 to 1/10th the cost of buying a small business , you have no rent, no employees, no inventory ..... The best business opportunity out there and it's not even close . Bob 201-233-9652
** This is not an offer or solicitation to buy or sell securities ***
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Property Features and Assets:
Wells located in Texas
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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