Begbiz
We have pursued a policy of drilling low risk oil and gas prospects, usually in areas of proven production, primarily in the geographical areas of Texas and Louisiana. The company's specialty is in acquiring high quality leases in proven fields, usually surrounded by existing production. Engineering then seeks to tie in the location of the new prospect with the existing surrounding proven production, using 3-D seismic interpretation.
Experience has demonstrated this to be the lowest risk and highest reward method of operation. At BEGBIZ we have partnered with Panoco Inc. to maximize our potential profits. Panoco Inc.
evaluates hundreds of prospects each year, but selects typically six to ten projects for development. There are numerous leases available for drilling and development, but only a select few meet the stringent criteria that Rockwood's experienced team requires. Some of the staff members of Panoco Inc. have over 22 years experience in the domestic oil and gas industry, including such areas as New Mexico, Colorado, North Dakota, Texas, Louisiana and the North Slope of Alaska. One of our drilling consultants have over 21 years experience in both the domestic and international oil and gas industry, including such areas as the North Sea, Persian Gulf, Iran, Pakistan, Venezuela, Colombia, the Peruvian Amazon, and the Gulf of Mexico.
Currently we are seeking a combination of individual accredited investors and select industry participants. During the drilling and completion phase of the operation, investors are kept up to date on the progress, with regular letters, faxes or emails. Once the well is in production Panoco Inc.
accounting furnishes each individual accredited investor with a monthly statement showing amounts of oil and/or gas sold the price received and the net revenue due the investor after deducting monthly lease operating expenses, etc. Investors also receive a 1099 statement each year from Panoco Inc.
. Substantial tax savings can be realized with direct participation oil and gas investing.