*SOLD* – Callahan Oil Lease Development Program -Est Payout Under 1 Year$ Protected

*SOLD*

Plan is to convert an injection well back into oil and drill 3 shallow wells.

60 acre lease with 2.5 acre spacing.

3 wells doing 3 BOPD with 2 injectors.

$20K to convert an injection well to oil could bring lease to 25 BOPD.

Cost to drill and complete single well @ 1,500′ estimated at $90K.

Well on lease back in the 1950′s produced +40 BOPD before shut-in in 1970′s.

Production estimates 8 – 20 BOPD per new well

Estimated payout under 1 year under low performance projections.

65%WI remaining @ $23.5K per 5%WI block @ 75%NRI.

Please contact us if interested in more information.

This is not an offer to buy or sell securities. We are not a United States Securities Dealer or Broker or United States Investment Adviser. Do your own due diligence and consult with a licensed professional before making any investment decisions.