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      LARTO & FORSTER#1 - RE-ENTRY PROJECT (Work-Over Well(s)

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      Mads Andersen on a field visit to Louisiana at the beginning of October this year.

      The well you see is a typical candidate when we talk about work-over wells (Re-Entry), a well that has not been looked after for a few years and is therefore no longer in production. The reasons can be many, often they are mechanical problems such as a faulty motor, leaking production pipe or a pump unit down the well that is faulty and the current owner has not resolved to spend money on the well or lacks the capital to do the necessary work, often could it also be that what the current owner can produce from the well, typically 5-10 barrels per day, does not fit into their business model as they only want the wells with production of +50 barrels per day.
      On the other hand, these wells fit our model perfectly, because we would like to get hold of them, because good money can be made even if the wells are at 5-10 barrels per day. We also obtain good tax advantages on the oil by having production below 10 barrels per day on our wells, namely only 3.2% in oil tax to the state as our wells are classified as marginal wells, in technical terms what is called "stripper wells". Our operators can often do things much cheaper than the big companies' operators who are often bigger companies with more fixed operating costs than we have overall.

      Pictures from some of the wells we plan to bring back into production.

      MISSIANA#15 WELL - Work has begun
      12-27-23: Larry our field man, is busy mowing the grass, as well as clearing the area around our tanks. The next step will be to get the well started to test for possible leaks etc.
      More videos will follow
      Thank you, EnerGyne Resources
      Note: The videos below show the Missiana#15 well, as well as the equipment we have purchased to date which will be set up in the area during February 2024, all equipment will just undergo a renovation so that it is ready for use.


      Economy - Estimates $70-90 per barrel of crude oil, the break-even point is at $35.00 per barrel. Click on each economic sheet, to see in a large window. We have made the financial calculation with a 5 year period, this does not mean that the wells cannot produce any longer, we expect between 10 - 15 years.

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      $70,00

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      $75,00

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      $80,00

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      $85,00

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      $90,00

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      $35,00 - Break-even punkt

      Financial summary of this project:
      We have created 6 different scenarios based on the first 3 wells to be put into production "MISSIANA#15, MISSIANA DC 1 AND BELTZHOOVER#1" total expected daily production is 22 barrels per day, which is also the basis of the economics.
      At an oil price of $80.00 per barrel, the payback time will be approx. 13 months, included are the first 12 months' LOE's (year 2024) and depreciation of the original investmentsum over 7 years starting in 2023.
      We have also calculated how more wells will affect the return, we expect an average of 7 barrels per well that is added to production, shows an annually increase in net cash profit of $718,36, this is based on a price per percentage(1%) of $3500 per well we add, depreciations excepted.
      As we connect more and more wells, this return will increase as we achieve higher and higher daily production. Remember that we have the option to participate in up to 15 Work over - wells (Re-Entry) in the same Leases/Fields and with the same potential, so the development opportunities are really big.
      Highlights!
      ● Net Revenue Interest 0.70 per (1) percent working interest per well● 1,00 % None - Operated Working Interest in all wells● Investor participates in all the first 5 planned wells (3 oil wells + 2 SWD)● The cost of work-over on the first 3 oil wells is included in the price per percent working interest *(first attempt) see explanation at the bottom of the page● The economics that have been calculated, are based on production from the first 3 wells, totaling 22 barrels per day● The right of first refusal to participate in the other 15 wells to be developed● Our operator SOLA OPERATING LLC, co-owns all the wells we do and knows the wells and is ready to start work as soon as the funds are in place● Estimated reserves 750.000 - 1 million Bbl/oil● The fields are known for the longevity of the wells, many of which have produced for more than 60 years and are still economical to operate.● Read a copy of the assignment you will have to sign in order to participate click here

      Distribution of ownership in this project:
      The operator : 12.00 %
      EnerGyne Resources Multi Well 1 Inc: 63.00 %
      Other investors: 25.00 %

      *Note: When we make financial calculations for a project, we always factor in the things we know need to be done, but as with technical equipment, unforeseen things can happen. So therefore we cannot always know with 100 percent how things will develop, even if we do our best to take into account everything we know about and a little extra.
      Fortunately, these wells are not very expensive to do workovers on, and that is also why we can offer ownership at such a favorable price as in this project.
      So that is why we have chosen to say that the work-over cost is included in the first (1) attempt in this project.
      Thank you EnerGyne Resources

      Summary of planned work:

      Missiana#15 well: We expect this well to be online at the end of December 2023.
      Install a saltwater pump, as well as perform minor electrical work.After that, we will change the oil in ojr. production pump and gearbox. We then review the valves and gaskets for possible leaks.Lastly, we review the gas line, as well as the flow line. Once this is done and approved for use, we will start up the well, expected daily production when this is stabilized 9 barrels per day.
      Missiana DC#1 well: Expected online at the end of January 2024
      will require a pumping unit, plus a sw pump, Flow line and tank battery repair - expected daily production of 7-8 barrels of crude oil.
      An engine will also need to be rented, as well as repairs carried out on the well-head, we have some tanks that need some repairs done on them, as well as some road work. We expect a daily production from this well of between 10-12 barrels of oil.
      Missiana#5:
      SWD well (Saltwater well) is to be used to pump back the water that we produce, together with the oil. Included in the purchase.
      Missiana DC#5 :
      SWD well (Saltwater well) is to be used to pump back the water that we produce, together with the oil. Included in the purchase
      Beltzhoover#1 well: Expected online at the end of February 2024
      Will require a pumping unit, plus a sw pump, Flow line and tank battery repair - expected daily production of 7-8 barrels of crude oil.




      Other useful information:

      • Documentation that our operator is insured click here


      • Visit the Department of Natural Resources - Louisiana Click here


      • Oil and Gas Terminology Click here


      • What is working interest oil and gas contract? Click here