Bob McManus
Cincinnati, OH (USA)
Role(s):
Existing oil wells
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Startup
Location:
Cincinnati
Industry:
Energy
Year Founded:
2003
Number Employees:
INVALID
Description:
Existing producing oil leases
(Proposed up to $80,000 @ 30% APY loan)
Located in Young county, Texas
This lease consists of 5 wells drilled in 1989 to the Mississippian formation, There are two water disposal wells, three 210 barrel production tanks, one tri-plex injection pump.
This lease is felt to have very good potential but is hampered by lack of some important operating equipment.
The purpose of this cash infusion is to initially get three of the wells operational.
Limited list of anticipated equipment expenditures:
Electrify lease and 4 electric motors 12,500
3 Lufkin pumping units 45,000
Tubing, rods & down hole pumps 12,500
1 heater treater