BOWLING GREEN, Ky. (PRWEB) March 30, 2018
Encore Energy, Inc., through its wholly-owned subsidiary, Encore Operating Kentucky LLC, has plans to drill multiple horizontal wells off-set to proven production and recent permit activity in the Upper Devonian Berea Oil Sandstone play of Lawrence County, Kentucky.
“The Company has made a continued and growing investment to de-risk its assets and preparation for multiple horizontal well drilling operations in Lawrence County”, said Steve Stengell, Encore’s President CEO. “We remain extremely confident that the economic viability of this project and the execution of Encore’s business model should attract institutional and industry investment capital to further de-risk and support a large scale, sustained horizontal oil well program in the future, providing much needed jobs and economic growth to the most rural areas of the Commonwealth”, added Stengell.
“We believe that oil prices have made a tremendous recovery and are in the infant stages of a long-term bull market”, said Joseph Hooper, Encore’s Executive Vice President and Director. “This price outlook is important because it dramatically improves today’s economic yield while enhancing tomorrow’s financial exit strategy”, added Hooper.
Oil and gas exploration, development and production and related investments involves a high degree of risk, uncertainty and are only suitable for qualified industry participant(s), institutional investors and SEC defined accredited investors who are sophisticated in making investment and business decisions. No assurances can be made as it relates to production, reserves, income, profit, projected timelines or any other estimates. The information herein may contain forward-looking statements and actual results may vary.
For more information, please contact Joseph Hooper at (270) 842-1242, ext. 224 or at Joseph.Hooper@encore-energy.com
Assumptions, Disclaimer and Cautionary Statement: The information herein may contain forward-looking statements, and actual results may vary. Words such as "estimate", "will," "intend," "continue," "target," "expect," "achieve," "strategy," "future," "may," "goal," or other comparable words or phrases or the negative of those words, and other words of similar meaning indicate forward-looking statements and important factors which could affect actual results. Forward-looking statements are made based upon Management's current expectations and beliefs concerning future developments and their potential effects upon Encore Energy, Inc. Oil and gas investments involve a high degree of risk, uncertainty and are only suitable for qualified Accredited (SEC Definition) investors who are sophisticated in making business decisions and can bear the financial loss of their entire investment, while delivering a turnkey profit to the Company for proving the prospect development, lease acquisition, drilling, completion, engineering and ongoing production operations. The Company does not provide tax advice and investors should seek the advice of their tax professional. Any tax and/or other information herein is provided for illustration purposes only and may include estimates that are uncertain and subject to change. It is impossible to accurately forecast profitability, production, reserves, income, expenses and timelines for any project. No assurances can be made as it relates to reserves, production, income, profit, prices, timelines and/or other estimates. Actual production and results are beyond the control of management. In the event that commercial production is achieved, it may take many years for the investor to recoup his or her investment. The Company's lease acreage position under is subject to change and includes acreage under lease, Farmout agreement, verbal agreement, renewals, expired terms and any other prospective acreage in which the Company has communicated and/or negotiated with the landowner the leasing of oil and gas rights, now or in the future, and the lease / mineral owner has leased or communicated their intent to lease there mineral lease rights to the Company. It is important for qualified investors to acknowledge the fact that the US government provides them with tax savings (100% IDC tax deduction) to mitigate or at least off-set some of the financial risk associated with domestic oil and gas investments. This is not an offer to sell or buy a security. An offer shall only be made pursuant to SEC Regulation D, Rule 506(c) by a private placement offering memorandum, and this is not a private placement offering memorandum.