The Company is the mineral lessee of oil and gas leases within each of the Project Areas. Each Project Area includes wells to be drilled with production possibilities ranging from depths of 1000 feet or shallower, down to roughly 4000 feet. All of these projects are close to known hydrocarbon production and offset well log data confirms the possibility of encountering commercial production. All the potential wells are relatively inexpensive to drill and complete at their projected depths.
The Company intends to use the Proceeds to exploit underutilized or unutilized Hydrocarbon reserves in Okfuskee County, Oklahoma through
For purposes of (6), such activities may include, but is not limited to, the laying of pipelines from the drill sites to distribution locations, acquisition or use of additional wastewater wells, contracting third party persons for operations.
The Company intends to have a conservative financial approach to well development, completion, and production. The Company has identified six development plays. Information and data for the analysis of this acreage are from electric logs, drillers' logs, completion and production reports obtained from the IHS Energy, the Oklahoma Well Log Library, private well records and 3-D seismic data, in conjunction with drilling and completion reports and production records of ongoing operations in the area. These plays are numbered (by the Company) as follows:
Play 2: Longview Stacked Pay Prospect:
Play 3: Bad Creek Stacked Pay Prospect:
Play 4: Bad Creek Booch Oil Prospect:
Play 5: Bartlesville Horizontal Oil Prospect:
Play 6: Patriot Stacked Play Prospect:
Play 7: Schlumberger Cromwell/ Jefferson/Wilcox prospects:
The Company will also seek out mineral lease acquisition targets of conventional drilling prospects and distressed/undercapitalized assets within prospect area and a three-hour radius from Tulsa - namely the Cherokee Basin, Southern Kansas Arbuckle, and Bartlesville strata. The ability to keep a watchful eye over operations is a core belief of the Company. The targeted well sites and mineral leases will be either producing or low-risk prospect sites.
Minimum Investment: $500 (500 Shares))
The Shares are being offered at a purchase price of One Dollar ($1.00) per Share. The Minimum Offering Amount for any Investor is Five Hundred Dollars ($500.00). Therefore, an Investor must purchase at least Five Hundred (500) Shares. Upon purchase of Shares, a Shareholder is granted (1) voting rights; (2) a right to receive dividends or disbursements, if and when the Board declares such dividends or disbursements. For a complete summary of the rights granted to Shareholders, see “Description of the Securities” below. The Shares are non-transferrable except in limited circumstances, and no market is expected to form with respect to the Shares.
The Company is currently managed by seasoned business and sector professionals dedicated to the success of the Company and efficient execution of its planned operations.
Jeff Leenerts has over twenty years direct experience in oil and gas operations. During this time he has worked in all oil and gas production facets including: well pad preparation, drill manufacturing, drilling operations, production, post-completion production, wastewater disposal, and hydrocarbon sales.
Mr. Steinke is the Company employee most involved with handling issues related to regulation of the Company’s activities by the Oklahoma Corporation Commission. Mr. Steinke also advises on certain contracts the Company may have with third party service providers, using his extensive knowledge and expertise to protect the company form potential regulatory issues.
Mr. Steinke has worked in the industry for various independent oil and gas companies in Tulsa, Dallas and Calgary in administrative, legal, and management capacities.
For the past five years, Jeffrey Steinke has been an officer and director of Inland Oil and Gas, Inc. and Inland Operating Company. He was in charge of all contractual and Oklahoma Corporation Commission work. He is an Officer and Director of Inland Mid-Continent Corporation.
Jerry Deem is the primary landman for the Company. His duties include direct negotiations and due diligence regarding the acquisition and securing of mineral leases on behalf of the Company. Mr. Deem has over thirteen years of experience working as a landman. He has worked on acquiring leases in Oklahoma, Texas, Kansas, Missouri, Colorado, Montana, West Virginia and Ohio. From time to time, Mr. Deem also serves as qualified witness for Oklahoma Corporation Commission pooling and spacing proceedings. Mr. Deem has worked as a landman for Metro Energy Group and as a consultant for Apache Corporation, SandRidge Energy, Chesapeake Energy, and Citizen Energy, amongst others.
Timothy Johnston has extensive experience in financial administration and has worked for over 35 years in various capacities for both private and public companies in the natural resources industry. For the past eight years, Tim has been and continues to be a partner at Tax and Financial Services, LLP. Mr. Johnston is the director of Gecko Minerals Limited, An Australian-listed public company, and is the President of Oklahoma Energy Consultants, Inc. which advises clients on taxation, acquisition, and administration of oil and gas properties in North America. Mr. Johnston holds a Bachelor of Science in Business Administration and Accounting from Oklahoma State University.
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Inland Mid-Continent Corporation - 2702 East 72nd Street - Tulsa, OK 74136 — firstname.lastname@example.org — (918) 779-7585