Replies to post #3303690 on BB's Stock Haven

[Big_Money_Upward]

RFMK .0064 ~~~Rapid Fire Bitcoin next?

[MasterBidder]

$SFPI - radar this DD play:



200M AS 100M OS

On July 26, 2013, Santa Fe Land LLC executed a Land Bank Loan Participation Agreement with Proven Fields Energy LLC, for the acquisition of 320 acres in Jack County Texas for the drilling of oil and gas prospects. Proven Fields Energy LLC has paid $35,000 as non-refundable earnest money. The total loan is for $340,000 and the balance of $305,000 was funded on August 29, 2013. The maturity of the loan is two years from the final funding date and receives a 50% participation return from the oil and gas development.

On November 11, 2013 an amendment to the original agreement was signed. The new terms are as follows: a. $5,400,000 is due by December 31, 2013, b. unless extended, SFP is obligated to drill three wells and establish a water disposal well, c. the working interest to be sold adjusted from 76% to 77% leaving (NRI 57.75%), 23% WI (NRR 17.25%) to SFP, and d. lease operating expense (LOE) estimate was adjusted from 12.5% to 15%.



PFE-Jack County Prospect, LLC

PFE-Jack County Prospect, LLC was formed in August 2013. This is a Joint Venture with Santa Fe Petroleum, Inc., a major independent O&G producer with a 16 year history of successful production in Shelby County and Hopkins County, Texas. This play is significantly bigger in every respect from PFE’s first two ventures. $3,300,000 is being raised to develop 2 wells to the Marble Falls formation at 5,500'. SFPI brings great expertise to the project and PFE brings its money raising ability. If you would like to learn more about this opportunity please contact Mr. Jack Ward

http://www.provenfields.com/projects

PFE-Jack County Prospect, LLC
Date Filing Type Offered Sold Type Link to Raw Filing
2013-12-24 New Form D Offered: $5,400,000 Sold: $360,000 Type: Other Raw Filing

http://www.formds.com/issuers/pfe-jack-county-prospect-llc



Amendment to WIPA dated 7/26/2013

[/quote]It is hereby agreed upon by the signing parties below that a time extension to 12/31/2013 shall be granted PFE-Jack County Prospect, LLC to fund $1,590,950 for the drilling of 1 well and 1 Disposal well. A 90 day additional extension will be granted upon Santa Fe’s approval. (March 31, 2014)

PFE-JCP will wire this amount for a completed well, with the understanding that if a decision is made by SFPI not to complete the well, i.e. declare it a dry hole, that the money over and above the dry hole and plugging cost will be wired back to PFE-JCP within 30 days of the plugging of the well. However, the time may be extended should SFPI not have received all cost invoices prior to the above 30 days date. The extension would be no longer than a total of 60 days.

The signing parties acknowledge that the PPM being prepared by Shartsis Friese for PFE-JCP will be for 3 wells to be drilled on the 320 acre Letz Lease. The wells will be drilled under the same Turnkey arrangement as established for the Letz #1 well unless a change in the amount is agreed upon, either up or down, and mutually agreed upon.

It is further agreed that the remaining drilling sites on the Letz Lease, presumably 5 more sites if full funding of the $5,400,000 PPM is achieved, will be offered to Proven Fields Energy LLC on a right of first refusal basis.

SFPI further agrees to a reduction of their WI from 24% to 23% and a subsequent increase in PFE-JCP’s WI from 76% to 77%. This increase has been granted to PFE-JCP to help defray the cost of marketing the PPM through wholesalers that are to be paid with those WIs by PFE-JCP.

Finally it is agreed that SFPI is increasing its’ estimate of Lease Operating Expenses to operate the Letz #1 and subsequent wells drilled on the Letz Lease from 12.5% to 15%. It is understood that this is an estimate only and will change from time to time.

ACCEPTED:

SANTA FE PETROLEUM, INC

__/s/ Tom Griffin, President_______ DATE___November 11, 2013


PFE-JACK COUNTY PROSPECT, LLC

_/s/ John F. Ward_________________ DATE_ November 11, 2013__
___________________________________________________________________________________

On February 11, 2013, we completed the purchase of multiple leases totaling approximately 1,628 acres in the area of its test well in North Central Texas. With this added acreage, we expect to plan for approximately 12-20 drilling locations depending on the number of Marble Falls and Barnett Shale oil wells that are drilled respectively.

Lastly, the Company has signed a land bank deal in the third quarter of 2013 for leasing 320 acres in Jack County, Texas with the plan to drill oil and gas wells, which will further diversify the Company’s oil and gas prospects. This purchase brings the total of the Company’s holdings to 2,024 acres for future drilling.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9619289

A cheesy video of the owner of Proven Fields Energy DD trip to Jack County before making the deal:

[Float Lock]

Hey FLEX , Time to load $BABL.