Encore energy bowling green ky5/7/2023 Qualified SEC defined accredited investors can deduct 100% of their investment against all forms of income (for the current 2018 tax year) with years of potential income from oil production.įor more information regarding this project and the year-end tax benefit, please contact Joseph Hooper at (270) 745-0132 or via e-mail at Disclaimer and Cautionary Statement: The information herein may contain forward-looking statements, and actual results may vary. Oil and gas investments involve a high degree of risk, uncertainty and are suitable for only SEC defined Accredited investors who can afford the loss of their entire investment. "This one-of-a-kind tax benefit further mitigates the risk associated with oil and gas projects," added Hooper. "SEC Defined Accredited investors can deduct 100% of their investment against all forms of income for 2018," said Joseph Hooper, Encore's Executive Vice. "Although no assurances can be made and risk still does exist, we firmly believe that ~30000+ barrels of oil equivalent (BOE) is a realistic first-year per well production target based on our recent results, third-party reports, technological improvements, and verified / unofficial volume reports of off-set production," added Stengell. Per the Kentucky Oil and Gas Association, the Berea Oil play is a "Game Changer" for Kentucky's oil and gas industry. Berea oil production from Lawrence County, Kentucky represented nearly 25% of the states total annual oil production in 2014. 15, 2018 /PRNewswire-PRWeb/ - Tier I Horizontal Berea oil wells in the productive oil window of Lawrence County have reportedly averaged in the range of ~100 - 150 BOPD over the initial 90 days of production where the well development costs are significantly lower, as compared to other plays across the US.
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