Re-entry project - 6 oil wells - ready to turn on
APPLETON, Minn. - Jan. 29, 2019 - PRLog -- The plan is the do all workover on the first 6 wells, get them producing and flowing oil into the tanks etc. when this is done. We will look at the potential on drilling new wells or going uphole in some of the first 6 wells, to see if we need to do small frachs on some of them to increase production or drill new shallow wells
These current wells have 3-4 more produceable zones up hole, which in this area, some came in flowing 60 bbls a day, from upper zones perforated, acidized and fraced. Good gas volume was also produced in these shallow zones.
Minimum investment is USD 5.714 this would give you 1.00 % NRI & 1.58 % working interest in the project.
R.O.I./Cashflow calculations, based on a 10 year lifespan:
BBL DAY ,R.O.I. (return on investment) , Mth. Cashflow
10 BBL DAY 3,9 $156
12 BBL DAY 4,7 $225
14 BBL DAY 5,5 $262
16 BBL DAY 6,3 $300
If you want more information about this project, do get in contact with us, we are working out on location as we speak.
TEX OIL COMPANY /U.S.E.B. Inc.
431 East Rooney Ave.
Appleton, MN 56208