nitehawk
05-04-2005, 03:08 PM
Interest: in participation in Oil & Gas Exploration and Production activities under the following guidelines:
* Investor will provide 100% funding of a oil and gas project for drilling and completion. Investor Will only participate in 50/50 joint ventures, STRAIGHT UP DEALS (no promotion). We will provide the funds and the joint venture partner will provide the oil and gas prospect, geology, drilling and operations. The cost of funds is 70%, leaving 15% to Investor and 15% to the joint venture partner.
* Oil and gas projects considered must be offset or infill drilling (PUDs – proven, undeveloped).
* Prospect submission will include (at a minimum) an Executive Summary of the project, an AFE and a Certified Geological report (including reserve studies), Title opinion, and copy of leases.
* Lease costs, Geological costs, AFE drilling costs and any other costs associated with the project will be charged to the JT venture at original out of pocket cost. Investor will not pay any up front profits or hidden promotion.
* Other criteria … must be 20:1 payback, minimum 81% lease, no overrides, use of standardized COPAs operating agreement required and a mutually agreed upon exit strategy.
* Accounting, tax and financial activities (receipts and disbursements) will be handled by Investor, or its sole appointed designate.
* Investor is not interested in participation in promoted oil and gas investment projects.
nitehawk58@netzero.com
* Investor will provide 100% funding of a oil and gas project for drilling and completion. Investor Will only participate in 50/50 joint ventures, STRAIGHT UP DEALS (no promotion). We will provide the funds and the joint venture partner will provide the oil and gas prospect, geology, drilling and operations. The cost of funds is 70%, leaving 15% to Investor and 15% to the joint venture partner.
* Oil and gas projects considered must be offset or infill drilling (PUDs – proven, undeveloped).
* Prospect submission will include (at a minimum) an Executive Summary of the project, an AFE and a Certified Geological report (including reserve studies), Title opinion, and copy of leases.
* Lease costs, Geological costs, AFE drilling costs and any other costs associated with the project will be charged to the JT venture at original out of pocket cost. Investor will not pay any up front profits or hidden promotion.
* Other criteria … must be 20:1 payback, minimum 81% lease, no overrides, use of standardized COPAs operating agreement required and a mutually agreed upon exit strategy.
* Accounting, tax and financial activities (receipts and disbursements) will be handled by Investor, or its sole appointed designate.
* Investor is not interested in participation in promoted oil and gas investment projects.
nitehawk58@netzero.com