Drill Into The Details
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*P{anned dividend on preferred stock. Dividends are not guaranteed and may fluctuate or not be paid at all.
*P{anned dividend on preferred stock. Dividends are not guaranteed and may fluctuate or not be paid at all.
In 2007, the U.S. Geological Survey (USGS)* estimated the quantity of undiscovered, recoverable oil and gas resources:
Proven oil pay zones* which are undeveloped and prospective. All projects are expected to have multiple oil pays.
Shallow reserves paired with limestone, dolomite, and sandstone rock formations can make for accurate drilling and more stable output.
Drilling permits can be secured in as few as 10 days. Royalty and lease rates can also be less expensive than in other states.
*https://www.usgs.gov/publications/assessment-undiscovered-oil-and-gas-resources-illinois-basin-2007
https://pubs.usgs.gov/fs/2007/3058/fs2007-3058.pdf
Embark on a very aggressive drilling program for at least 25 new wells
At least 25 drilling prospects identified for Devonian reefs in Clay County
At least 55 prospects for deeper formations, including the Trenton, Black River, St. Peter Sand and Knox formations
I really like the structure of the LGX preferred stock offering. It gives me really attractive current passive income through the dividends, while the conversion feature gives me the opportunity for big capital gains down the road….
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As a long-time oil and gas investor, as well as having some early experience as an executive in the space, I’m very impressed with the quality of the play in southwestern Indiana. I’m personally familiar with Howard’s previous success in the industry, having made a big profit as an investor in his earlier company, Cadence Resources.
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This is a great opportunity to explore the untapped reserves in southwestern Indiana, in the heart of the highly prolific Illinois basin. Applying modern 3D seismic to this historic province, along with their team of top-notch industry experts has positioned LGX for success!
The testimonials may not be representative of the experience of other customers. (ii) There is no guarantee of future performance or success. (iii) The testimonials herein above are unpaid.
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