Thursday, September 18, 2014 10:45:57 PM
EPA Petroleum, Inc. (EPA) is an oil drilling company with operations in Pennsylvania. EPA currently has 4 groups of 10 Oil Well blocks to be able to drill on over 250 acres of land and has oil drilling underway on the same drilling lease. EPA focuses in on a niche area of drilling that is very conservative focusing in on benefits from the tax deductions available for an oil and gas drilling investment including intangible drilling costs, depreciation, operating costs, and percentage depletion. Structured properly, partners may offset their taxable income gained from other sources with the substantial deductions available from investing in oil and gas wells.
I think the new CYBK is going to try and take advantage of drilling in Pennsylvania because Pennsylvania is willing to give tax breaks to companies that try and get dat oil again.
Here is a recent article:
http://www.theguardian.com/environment/2014/sep/18/pennsylvania-abandoned-fracking-wells-methane-leaks-hidden
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