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Selling a 61% working interest in operating well with potential to increase to 100% WI. Producing 55-65 mcf/day of wet gas.
HIGHLIGHTS
• Original well abandoned in 1984 after casing failure resulting in well being shut in
• Well completed in 11/82
• Oil production of Bernstein (Ellen) was ~ 19,500 BBls over 18 months
• Natural Gas production was 29,900 Mcf over 24 months
• An offset well “D1” was drilled in 2010 500 ft from the original Bernstein (Ellen) well
• Target zones include Mississippian Limestone, Caddo Limestone, Duffer Limestone and more
• Location has possible reserves of 250,000 bbls and 1 BCF of gas
• Acquire in 2008 by current Owner/Operator
• Well sits on 230 acre lease, all depths. No encumbrances
61% Working Interest: 75% NRI
• Potential to increase working interest from remainder unit holders to 100%
• Isabella Marie D1 : 4,950 ft well
• Interconnected with remote telemetering to Enbridge
• Equipment is in good condition with an estimated value of $75,000
Future Potential
• Second Well Offset (AFE available with current operator)