Bowling Green, Kentucky (PRWEB) September 18, 2017 -- Encore Energy, Inc. is a bonded well operator in the state of Kentucky and the most active well operator in south central Kentucky. Encore has recently expanded its operations to Johnson and Lawrence counties to develop multiple horizontal Berea oil well projects.
Encore has successfully drilled and currently testing a horizontal well in Johnson County, the Encore Adkins Bud #H1. “We are very pleased with our results thus far and are currently making preparations for crude oil production operations to begin”, said Steve Stengell, Encore’s President CEO and Chairman. “Based on our preliminary results and extensive data from the Bud #H1, we are making plans and preparations to drill three (3) immediate horizontal well locations”, added Joseph Hooper, Encore’s Executive Vice President and Director. Qualified SEC defined accredited investors can deduct 100% of the intangible drilling costs against all forms of federal and state income, which typically results in a 40 - 50% immediate out-of-pocket tax savings in the first year.
The Company firmly believes there exist tremendous opportunity for Kentucky’s oil and gas industry to improve and apply state-of-the-industry horizontal well technological improvements to eastern Kentucky where the horizontal Berea oil production already represents more than 20% of the state’s annual oil production, potentially creating literally thousands of highly-skilled and highly-paid jobs in the Commonwealth’s most rural areas. “Encore most recent horizontal well operations supported an estimated 75 highly-paid and highly-skilled jobs near Paintsville”, added Stengell.
Oil and gas investments involve a high degree of risk and are only suitable for SEC defined accredited investors who can afford the loss of their entire investment (SEC Regulation D, Rule 506(c)). For more information and/or to see if you qualify as an SEC defined accredited investor, please contact Joseph Hooper at (270) 842-1242, ext. 224 and visit us on the web at http://www.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 which further governed by the National Investment Securities Marketing Improvement Act of 1996. This is not a private placement offering memorandum.
Steve Stengell, Encore Energy, Inc., +1 (270) 438-9956, [email protected]