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Oil Exploration & Production Company

Location  Texas,United States
Asking Price Range  $10.0M - $20.0M
Gross Revenues  $1000000000
Net Profit / Cash Flow  $122000000
Cash Flow Type  EBITDA
Seller Finance  Not Disclosed
Year Established  2008
Number of Employees  6 - 9
Relocatable  No
Number of Employees  6 - 9
Real Estate  Leased
Reason for Sale  Seeking debt or equity investment of $15 million.
Description  The Company is an oil exploration and production company (E&P) seeking a debt or equity investment of $5 million initially + $10 million final stage for crude oil extraction of a large, proven oil field in Texas. Engineering data confirms that the current value of oil in place in the sought-after reserve exceeds $6 billion. The Company currently holds 10% of the lease to the specific oil reserve, and is looking to gain complete control of their reserve by acquiring the remaining 85% of the lease rights. Operational control is dictated by whoever owns at least 51% of the lease. With control of the lease, the Company intends to conduct a pilot drilling project (from the initial $5 million investment) to determine optimal production rates. With the $10 million final stage investment, additional drilling can begin as soon as six months after the pilot project is underway. Various means of testing, including well penetrations, logs, core data, and production history have already been conducted to confirm that oil is contained in quality sands with high oil saturations and good permeability. Highlights: **Looking to fund purchase of pilot project for production of heavy oil which is ready for immediate drilling; information collected during pilot project to be used when drilling additional wells. **Engineering data confirms current value of oil in place in reserve exceeds $6 billion. **Initial $5 million investment will fund pilot project while additional $10 million to be used, shortly thereafter, toward drilling of remaining oil in place. **Favorable SEC rule being implemented January 1, 2010 will allow for companies in this industry to include more assets than they could previously, thereby strengthening their balance sheets.
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