Presentation on theme: "The Broadview-Smyers Field David Cochran – President and CEO Larry Morton Ph.D. – Consultant Terry Williamson – Broadview-Smyers Geologist."— Presentation transcript:
The Broadview-Smyers Field
David Cochran – President and CEO Larry Morton Ph.D. – Consultant Terry Williamson – Broadview-Smyers Geologist
The Broadview-Smyers Field- resides between Lubbock and Midland, Texas in an area better known as the Permian Basin. The field is a small 1500 acre area that is comprised of 22 individual land leases that have been put together for oil and gas exploration and drilling. The acreage is surrounded by producing wells. These wells have a long history of methodical income producing crude. The principal pay zone is the upper clear fork with an average depth of 5000 to 6500 feet. Geologist Terry Williamson projects this formation to provide the availability of 5 to 9 million barrels of oil. At $50 at barrel this is roughly $250 to 450 million dollars.
Kyco Energy is planning to drill 22 producing wells and 8 injection wells in this formation. The concept is to use water as a pressure gradient to push the oil to the open working wells and therefore insure the recovery of the full 5 to 9 million barrels. There is a very good chance the pull out could be much greater than 9 million barrels. Kyco Energy, working with affiliate company Sierra Rig Leasing, LLC, will have a drilling rig ready to begin drilling 90 days after the lease has been assigned. The preliminary drilling plan calls for all the wells to be completed within 15 months.
Kyco Energy is in need of partner(s) to complete the working interest of the 1500 acres and participate in the take out of the crude. Kyco Energy has 62.5 % of the working interest available. With an estimated reserve of over 5 million barrels, at today’s current $70.00 /bl. Rate this means a conservative pull out of 350 million dollars. Using water injection engineering, this 5 million reserve can be pulled out at an expedited rate. This means the investor can retrieve his investment back sooner and earn the real profits over a shorter life span of the well (s).
Kyco Energy, LLC has available a 1500 acreage area in the Permian Basin of West Texas where some of the longest producing wells in oil and gas history are working Kyco needs a partner(s) to help drill the 22 wells. Terry Williamson Broadview Smyers Geologist and native to the area predicts the formation will produce around 5 to 9 million barrels. Tax benefits include intangible costs and direct working interest expense.