Precision Petroleum Corp. http://www.precisionpetroleumcorp.com/
200M A/S Jimmy L. Graham
President, Treasurer and Director, Precision Petroleum Corp.
Age Total Calculated Compensation This person is connected to 7 board members in 2 different organizations across 2 different industries.
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Mr. Jimmy L. Graham, Jim has been President, Treasurer and Director of Precision Petroleum Corp. since April 16, 2013. From 2010 to 2012, Mr. Graham was founder and President of Wyoming based Wind River Oil & Gas LLC, which managed various natural resource projects for the Northern Arapaho and The Eastern Shoshone Tribes. From 1999 to 2009, Mr. Graham worked as a consultant to blue chip exploration and production companies. Mr. Graham has over 30 years of experience in the oil industry in all types of operations from a single rig company to a multi-million dollar corporation. He has supervised the drilling of hundreds of wells throughout California and the Pacific Northwest and has managed operating personnel and drilling programs for a wide variety of companies. As energy prices climbed higher in the late 1990's, Mr. Graham focused more on the production aspects of the oil industry and has worked with large, blue chip corporations including ExxonMobil, XTO Energy, ConocoPhillips and Aera Energy, LLC. From 1982 until he sold the business in 1999, Mr. Graham served as founder and President of Jim Graham Inc. He serves as a Member of Board of Advisors at MCW Energy Group Limited.
Item 1.01. Entry into a Material Definitive Agreement.
On April 18, 2013, Precision Petroleum Corporation (the "Company") entered into a Licensing Agreement with Nefco Petroleum, LLC ("Nefco"), pursuant to which the Company obtained from Nefco the right to license, use and sublease to other users certain proprietary equipment and processes relevant to the "frackless" drilling and mineral extraction technology commonly known as Direction Frackless Technologies ("DFT Systems") for an initial Term of ten (10) years.
Precision Petroleum Corp has entered into a joint venture agreement which grants the Company first right of refusal on a Montana based Oil, Gas and Coal property.
PPTO Montana Projects http://www.precisionpetroleumcorp.com/montana.php
Precision Petroleum Corporation has entered into a joint venture agreement which grants the Company first right of refusal on Montana based Oil, Gas and Coal properties. Phase 1 of this project is a 1,600 acre plot with a focus on developing after an in depth engineering program. From data obtained by the engineering program results, this 1600 acre area is where management intends to drill the first 10 wells.
Independent evaluations by resource evaluators and licensed geologists of the minerals on the land owned by members of the LLC using data prepared by the USGS (United Stated Geological Survey) and the Montana Mineral and Mining Survey have recognized value of the mineral assets of coal bed methane, natural gas, coal, oil, gravel, bentonite, forestry and dolomite. This value does not take into consideration the dollars that can be generated due to development of prototype 500 megawatt power plants, windmill power generation and the farming of crops such as corn, beets and alfalfa.
The Crow Allottees are Indians whose relatives were given land originally granted to the Allottees itself as a result of The Great Allotment Act of 1887 and The Crow Allotment Act of 1920. The Allottees, by definition, are those original Allotment beneficiaries and/or their descendants who want to obtain capital funding to develop their mineral assets within the boundaries of the Powder River Basin in Montana.
It is well documented that it has been difficult for many outside groups to deal with Crow Tribal councils regarding investments on Allottee's land due to conflicts within the Crow Council. Realizing this and understanding that their best chance for prosperity was to form a co-op group outside the rules and regulations of the Crow Tribal council, these Allottees formed an LLC under Indian law to forge partnerships with developers, drillers and oil, gas and coal companies to finally receive the financial benefits of the vast mineral resources that exist on their land.
The major cities are Hardin, Crow Agency and Lodge Grass, and the major interstate is 90. The land that is owned by the individual land owners who are members of the LLC encompasses the area within the southeast boundary of the Powder River Basin.
It is important to note that while this land is within the reservation, the owners of the land, the Allottees, are not bound by tribal reservation control when it comes to the development of their own mineral assets.
PPTO Oklahoma Projects
Precision Petroleum Corporation is actively exploring and producing projects in the state of Oklahoma. Currently, Precision Petroleum Corporation has 13 active wells in the region.
Thompson No. 1 Well - Located in Garvin County, Oklahoma.
Thompson No. 1 well located on section 18, T4N-R2W, Garvin County, Oklahoma. The Thompson No. 1 was drilled in late 2005 as a development project and has produced 26,627 barrels of oil and more than 51 million cubic/feet of natural gas as of 5-13-09.
The Thompson well produces from the Viola Limestone at an interval from 4,974' to 4,983' (7'). The company plans to drill a step-out well to the existing well bore which is a location between 2 existing producers.
Mason Burns No. 2 Oil Well - Located in Garvin County, Oklahoma.
Mason Burns No. 2 oil well located in Garvin County, Oklahoma. The well produces oil and gas from the First Bromide formation. This First Bromide Sand formation has historically been a prolific production reservoir for several decades in this area. This well was originally co-mingled with an adjacent First Bromide well with both wells producing in excess of 625,000 barrels of oil with associated gas. A later re-completion in 2006 in the remaining First Bromide productive interval has yielded another 5,303 barrels of oil with some natural gas as of 5-15-09.
With nearby Viola production just to the south, this well may also have the potential to produce from the Viola Limestone which is behind pipe in the existing well bore. The Viola formation will be tested when the Bromide formation has substantially been depleted.
Teresa No. 1 Oil Well - Located in Garvin County, Oklahoma.
Teresa No. 1 well is located at NW/4, of the SW/4 of Section 34, T4N-R2W, Garvin County, Oklahoma. Teresa No. 1 has been in production since 2004, and completed in the Viola Limestone which has produced 5,292 barrels of oil and in excess of 46,000 MCF of natural gas as of January, 2009. The Viola Limestone formation is a consistent oil & gas producer and displays excellent porosity. With farm-out approval, this well may offer additional oil & gas reserves from the Deese Sandstone just above the Viola Limestone
Quinlan No. 1 - Located in Pottawatomie County, Oklahoma.
Quinlan No. 1 located on the NW/4 of Sec 19. T11N-R5E, Pottawatomie County, Oklahoma.
A five year producer from the Hunton Limestone reservoir, this lease has been a steady producer with a total cum as of 6-1-09 of 12,530 barrels of oil with a per month average in excess of 200 barrels of oil.
Jessica No. 23A - Located in Seminole County, Oklahoma.
Jessica No. 23A, located in Section 5, T6N-R6E, in Seminole County, Oklahoma. The current total production as of 6-1-09 is in excess of 6,000 barrels of oil since it was first discovered in February, 1992.. The goal of this purchase is to expand Precision's gas reserves by re-completing a zone up-hole in the Calvin Sand which is a significant gas bearing formation helping to expand gas reserves for the corporation. A nearby offset, only 1320 feet to the northeast, tested over 250,000 CFG/D from the Calvin Sand which is a sizeable amount of gas production considering the shallow depth of the sand. The current acreage position will allow an in-field well to be drilled if offset production is needed to adequately drain the formation.
Sharon No. 1 - Located in Garvin County, Oklahoma.
Crown Lease - Located in Pottawatomie County, Oklahoma.
Crown lease in Pottawatomie County, Oklahoma is a recent acquisition and provides oil production and a drilling prospect. This lease has two producing wells with one of the wells having produced approximately 64,000 barrels of oil and an approved salt water disposal (SWD) well. The existence of a SWD well is critical in order to maintain oil production. The Company's goal with the Crown lease is to secure the opportunity to drill a horizontal well into the Hunton Reservoir.
Heath No. 1 Well - Located in Seminole County, Oklahoma
Heath No. 1 oil well located in the SE/4 of Section 31, T8N-R8E, Seminole County, Oklahoma. Completed as a Hunton Limestone producer, the Heath has accrued 7,089 total barrels of oil with associated gas as of 2/29/09 with production starting 9/04/08. The Hunton Limestone formation is well known in this area of Oklahoma as an excellent producer of oil & gas as well having good longevity of production.
Also of note, the Booch Sandstone and the Lower Calvin Sandstone both indicate to possess productive formations which will be perforated once the Hunton is finally depleted of its reserves. This well holds an adjoining 40 acre lease which is in a favorable structural position to drill another Hunton Limestone test for future reserves along with having the opportunity to test the productivity of the
Karsyn No. 1 Well - Located in Seminole County, Oklahoma.
Karsyn No. 1 well is located in the SE/4 of Section 20, T8N-R8E, Seminole County, Oklahoma. The Karsyn No. 1 was successfully completed on a 20 acre lease in the Hunton Limestone formation which has produced from 4/08 to 6/07/09 for a cumulative total of 9,001 barrels of oil with associated gas. As mentioned in the Heath No. 1 synopsis, the Hunton Limestone is well known in this area as an excellent producer of oil and gas.
At some date in the future when the Hunton formation finally depletes, the Calvin Sandstone up hole will be perforated to test for oil and gas as it calculates productive.
White No. 12-1 Oil Well - Located in Pottawatomie County, Oklahoma.
White No. 12-1 oil well located in the SW/4 of Section 12, T11N-R6E, Pottawatomie County, Oklahoma. Initially completed as a gas well from the Hunton Limestone formation, the well progressively evolved into a steady oil producer with enough gas in solution to run the pump jack. The well was completed naturally from 8 feet of perforations from 4190' to 4198' with only a small acid flush. Currently, the White well has produced 2,298 barrels of oil as of 5-16-09 which is eleven months of production and has earned just over a 2 to 1 rate of return from an $85,000 initial investment. When production diminishes to a much lesser volume, the well will be fracture treated to enhance volume and longevity.
Ward/McNeil No. 1 Oil Well - Located in Garvin County, Oklahoma
Ward/McNeil No. 1 oil well located in the NW/4 of Section 27, T3N-R1W, Garvin County, Oklahoma. The well was initially completed in the Basal Pennsylvanian Sandstone/Viola Limestone formations after a minor fracture treatment resulting in only a modest 189 barrels of oil accumulated becoming evident that a larger fracture treatment will be necessary to substantially increase the production from these reservoirs. A more aggressive treatment is being planned to bring the well back on line in order to quickly recover the investment and establish a profitable well.
Quinlan No. 2 Oil Well - Located in Pottawatomie County, Oklahoma.
Quinlan No. 2 well located in the NW/4 of Section 19, T11N-R5E, Pottawatomie County, Oklahoma. The Quinlan No.2 well is completed in the Viola Limestone formation which is in the Northeast Shawnee Field adjacent similar Viola completions. This field is also known for its lucrative Hunton Limestone production and the opportunity exists when the Viola Limestone is depleted at some future date to re-enter the well bore to test the Hunton reservoir. Currently the well produces approximately 10 barrels of oil with 200 barrels of saltwater with very little established production history in this formation.
Quinlan No. 3 Oil Well - Located in Pottawatomie County, Oklahoma.
Quinlan No. 3 oil well located in the NW/4 of Section 19, T11N-R5E, Pottawatomie County, Oklahoma. This is an adjacent well to the Quinlan No.'s 1 and 2 which Precision also owns an interest. This lease has only been producing for a few weeks from the Viola Limestone and Simpson Dolomite formations and has not stabilized its production from the well stimulation. Both formations are known producers in the Northeast Shawnee Field and this well should enjoy a long lived history of production.
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About Nefco Petroleum
Since 1998 Nefco Petroleum and its subsidiaries, have positioned themselves as one the most dynamic and technological advanced companies in the oil and gas secondary recovery industry.
Nefco’s methods and technologies were developed on the basis of available process solutions; the qualified personnel and the accumulated experience make it possible to efficiently solve a wide spectrum of tasks at the production/injection wells.
Nefco's technologies are cost effective, and due to the inexpensive cost of the actual re-work on depleted and potential shut-in wells, the return on investment is high.
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The creator of Nefco and Jim Graham work together.
TORONTO--(Marketwire - January 15, 2013) - MCW Energy Group (TSX VENTURE: MCW)
(MCW.V) ("MCW"), a Canadian holding company involved in fuel distribution and
the creation of oil sands extraction technology, today announced highlights of
its Consolidated Statements of Loss and Comprehensive Loss for the period
ending August 31st, 2012, which included an increase in net revenue from its
fuel sales division, MCW Fuels. Net revenue for 2012 increased to $363,325,177 USD which indicates a substantial increase from the year 2011,
which totalled $241,540,372 USD.
Created Nefco petroleum
Look at page 18
Vladimir Podlipskiy, PhD - EMD Biosciences, Inc. Chief Chemist in R & D for Nanotech, Inc., Los Angeles, & Chief Chemist- Premier Chemical, Compton, CA. Former Premier Chemical Scientist @ UCLA Dept. of Chemistry.
Sami Dabbas - Over 30 yrs. experience in petroleum industry, including acquisitions for Chevron, Texaco, Shell, Valero, Union 76 & Arco.
Dr. Jimmy Graham - Over 30 yrs. experience in oil industry from single rig companies to multi-million dollar
corporations. Has supervised drilling of 100’s of wells throughout California & Pacific Northwest including ExxonMobil, XTO Energy, ConocoPhillips and Aera Energy, LLC.