BOWLING GREEN, Ky. (PRWEB) February 09, 2023
Encore Energy, Inc. has previously drilled three (3) horizontal wells in the southern field of Lawrence County to produce from the Berea Sandstone formation. The Company is also developing a ~5-6 mile gas gathering system to transport gas and optimize oil production from each horizontal well.
“The ability to transport gas lowers the wellhead pressure for each horizontal well, increasing the ability to produce crude oil”, said Steve Stengell, Encore’s President and CEO. “The primary objective is crude oil production with natural gas serving as a byproduct, and we continue to make significant progress despite increased well costs, extreme labor shortages, a supply chain crisis, and more regulation”, added Stengell.
Qualified accredited investors can deduct 100% of the drilling costs associated with horizontal well projects with an estimated ~90% of this deduction available in the first year.
Oil and gas investments involve a high degree of risk and are only suitable for accredited investors. No assurances can be made as it relates to production, reserves, or other estimates.
If you are a qualified SEC defined investor and would like to find out more about making a direct investment in this project, please contact Steve Stengell at (270) 438-9956 or via email at firstname.lastname@example.org
Investment Risk, 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 an extremely 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 providing the prospect development, lease acquisition, drilling, completion, engineering, ongoing production operations and other services. 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. The Company’s well operations is located primarily in the extremely remote, mountainous and challenging terrain of East Kentucky. This extremely challenging terrain may result in indefinite project delays and escalating costs beyond the control of management. It is important for qualified SEC defined accredited 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.