$MKSEF I just want to add a couple of things to your post DD. These points have been made in earlier posts, but I think they deserve to be repeated.
The refiner they have the agreement with will come to them to collect the oil right at the wells. No transportation costs whatsoever for Marksmen!
The fields they will be drilling hold proven reserves of very high grade light sweet crude. This is not the schwag crude that's used for motor fuels, this oil will be refined for use in high-end specialty applications.
The fields are known as the Clinton Sandstone formation in Ohio. This reserve was first tapped in the late 1800's and early 1900's and then abandoned after extracting only 3% to 5% of the reserves, due to limited technology. Marksmen has done 3D seismic surveys and chosen locations to drill 5 initial wells starting this month (yes, December 2017!), and 20 more wells are slated for the near future.
The wells being drilled are high tech, lateral (or horizontal) wells that produce up to 15 times more oil than a vertical shaft well. They drill vertically into the reserve, then put a horizontal bore right through the core of the reserve, and then use NON HYDRAULIC fracking techniques to liberate the oil. Non hydraulic....that means none of those nasty chemicals that are associated with hydraulic fracking operations.
Quick breakdown of the numbers. $1.4M to drill each well. At least $24M expected return from each well, and that was figuring conservatively at a WTI price of $50 BBL.
I could go on, but let's let this get digested. Most everything is on the Marksmen iHub board if folks want to take a stroll over there.