Start Scientific (STSC) Staying the Course – Executing as Planned Farmout Agreement Strategies
Start Scientific is an oil and gas company with efforts centered on development-stage exploration, drilling and extraction. Its strategy is to capitalize on oil and gas exploration and development opportunities that are frequently bypassed by the larger oil and gas companies in the energy sector.
As of late, STSC has been engaged in the due diligence involved in establishing leases and joint partnerships for its project portfolio made up of shallow, deep and horizontal drilling projects in the states of Mississippi, Texas, North Dakota and West Virginia. Through its efforts in various geographic projects, the strategy provides Start Scientific a much wider perspective of drilling and exploration opportunities.
Impetus for the company’s initiatives comes from a management team that leverages a combined experience total of more than 50 years in the industry. This foundation of know-how is applied to the exploration of low-risk land lease opportunities on properties with known oil deposits and the development of facilities on these properties to extract the oil, and distribute it for sale in the open market cost effectively.
Evidence of the company’s resolve in its mission was seen earlier this year as it signed two farmout agreements in Jackson, Mississippi.
In the first agreement, together with BPS Operating Services LLC, Start agrees it has until April 1, 2015, to tender $500,000 for the first well to be drilled in the Flora Field of Madison County. Production interest includes 40 acres near the new well and STSC earns a 75% working interest before payout. Subsequently, a 60% working interest will come after payout.
In the second agreement with Durban Energy, it provides Start Scientific the time period up to July 10, 2015, to begin drilling a new well on the Fayette Field acreage. The company gets all of the net revenue until payout of all costs, at which time Start Scientific delivers 25% working interest to Durban and its partners. There is a 30% royalty burden on the leases.
Based in San Antonio, Texas, Start Scientific endeavors to use its unique management contacts to acquire additional oil and gas assets worldwide and expand its exploration and development of existing properties.
For more information, visit www.startscientificoil.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
Start Scientific is an oil and gas company with efforts centered on development-stage exploration, drilling and extraction. Its strategy is to capitalize on oil and gas exploration and development opportunities that are frequently bypassed by the larger oil and gas companies in the energy sector.
As of late, STSC has been engaged in the due diligence involved in establishing leases and joint partnerships for its project portfolio made up of shallow, deep and horizontal drilling projects in the states of Mississippi, Texas, North Dakota and West Virginia. Through its efforts in various geographic projects, the strategy provides Start Scientific a much wider perspective of drilling and exploration opportunities.
Impetus for the company’s initiatives comes from a management team that leverages a combined experience total of more than 50 years in the industry. This foundation of know-how is applied to the exploration of low-risk land lease opportunities on properties with known oil deposits and the development of facilities on these properties to extract the oil, and distribute it for sale in the open market cost effectively.
Evidence of the company’s resolve in its mission was seen earlier this year as it signed two farmout agreements in Jackson, Mississippi.
In the first agreement, together with BPS Operating Services LLC, Start agrees it has until April 1, 2015, to tender $500,000 for the first well to be drilled in the Flora Field of Madison County. Production interest includes 40 acres near the new well and STSC earns a 75% working interest before payout. Subsequently, a 60% working interest will come after payout.
In the second agreement with Durban Energy, it provides Start Scientific the time period up to July 10, 2015, to begin drilling a new well on the Fayette Field acreage. The company gets all of the net revenue until payout of all costs, at which time Start Scientific delivers 25% working interest to Durban and its partners. There is a 30% royalty burden on the leases.
Based in San Antonio, Texas, Start Scientific endeavors to use its unique management contacts to acquire additional oil and gas assets worldwide and expand its exploration and development of existing properties.
For more information, visit www.startscientificoil.com
Please see disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.com
