BOWLING GREEN, Ky. (PRWEB) March 06, 2021
Encore has successfully drilled and completed the JDH #5 for production in Lawrence County, Kentucky with Tier I production potential and good solid long-term oil reserves.
The Company is currently making plans to drill the JDH #6, JDH #7 and WFC #H1 horizontal well projects – each well located off-set to proven Berea oil production in Lawrence County, Kentucky. Nearly ~25% of the state’s estimated oil production / reserves are reportedly located in Lawrence County. Oil prices are making an substantial move up and experts predict crude oil to move even higher in price for the short, near and long-term.
Oil and gas investments are subject to a high degree of risk, uncertainty, unpredictability, indefinite delays, loss of investment and are suitable only for SEC defined accredited investors who are sophisticated in making business and investment decisions. No assurances can be made as it relates to production, income, rates, distributions, reserves, profitability, prices, timelines and/or any other estimates.
“We are super excited about the production potential at JDH #5 and are currently making preparations to drill the JDH #6, JDH #7 and WFC #H1 horizontal Berea oil well projects,” said Steve Stengell, Encore’s President and CEO. “The growing demand for oil and positive outlook for crude prices make these projects even more attractive,” added Stengell.
For more information, please contact Steve Stengell at (270) 438-9956.
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.