02 Nov 1/20/23 – KS Lease Development Program – Phase III – Rig Arrives Monday!
2400 acre lease in Central KS
Operator to drill 2 offset vertical wells to complete in the Marmaton – estimated reserves of 75MBO per well in this payzone alone
2 Secondary payzones estimated 35-100MBO per well in reserves
Lease has recently completed well producing 40 bopd and 3 more drilled awaiting completion
Estimated payout under 10 months upon successful completion of all wells @ $85 oil
Estimated 2:1 payout in 3 years for single payzones
$23k per 1%WI @ 80%NRI. First right of refusal on subsequent development on leasehold. 8% WI available.