Friday, October 08, 2021 9:12:01 PM
Phase 1: United Energy will acquire up to 20 horizontal
Bakken wells. The estimated budget for the initial
Bakken acquisitions is $7.5M to $12.5M.
Phase 2: United Energy’s team will assess and determine
the best wells to initially re-work using modern fracture
stimulation processes. Estimated budget per workover
and refract = $500,000/per well.
Phase 3: Includes additional workover activity into
additional oil zones that have not been produced yet by
exploring behind pipe opportunities. The zones are
expected to be in the Madison formation which are
expected to yield an additional 200,000 to 500,000 bbls
of oil per well. The completion of additional behind pipe
zones = $600,000/per well.
Financial Projections
April 2021: Company completes financial updates with OTC Markets
June 2021: Company completes 2020 Audit
July 2021: Registration of 150M shares via S1 filing for $30,000,000 priced at approx. $0.20/share
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