Pennaco Natural Gas, LLC (the "Company") is engaged in the exploration and production of oil and gas, with emphasis on natural gas. The primary activities are focused on shallow to 15,000 ft. depth opportunities which the Company has identified as low risk, and which will produce immediate results.
Nick O'Neill is the executive manager who professionally manages the organization and operation of the Company. He has been involved in the petroleum industry since the 1970's, having been directly responsible for drilling, producing and managing many oil and gas properties.
The Company is currently offering what industry standards would classify a low risk opportunity to participate in the re-entry of three pre-existing oil wells that were plugged out when oil production was determined non-commercial. At the time that these prospects were drilled, there were no gas lines for transporting gas to market. In recent years, Duke Pipeline has developed a low-pressure gas line to purchase natural gas in this area of central Oklahoma. The three prospects are to be recompleted and produced from the Layton Sand at approximately 4200 feet deep. Initial production tests verify that this Layton Sand zone in this field has proven gas reserves. A nearby well was recently drilled to a greater depth, and the Layton Sand at 4200' was found to be productive. This discovery led to the development of the prospect area being developed by Pennaco. This field may have the potential of 15 to 20 additional wells being developed, and comprised of 3 to 6 re-entries and 10 to 15 new wells. Several other producing oil and gas horizons exist in this field of interest.
- In excess of 25 years experience for the management team.
- Considerable technological experience of the management team in conservative interpretation of geological evaluation for oil and gas prospects.
- Access to experienced independent geologists, petroleum engineers and operators who are associated with the management team.
- Historically high prices for natural gas.
- Distribution of cash flow on or before 60 days from completion of the wells.
- Return of investment in approximately 12 months.
- Long-term tax-sheltered revenue.
|Pennaco Natural Gas, LLC|