Gone are the old days of oil and gas exploration, when a driller could stake a claim and drill a hole, hoping to hit a gusher. Today’s oil and gas marketplace is a bit different, with paperwork and lawyers being the first step in any drill program. Unfortunately, a company needs to have a certain finesse with this paperwork if it expects to bring in a gusher. If a company can be found that has skill and luck on both sides of the oil and gas exploration game (paper & drilling), profits may well gush for all.
Vortex Resources Corp., an oil and gas exploration and development company, works to discover and exploit oil and natural gas, primarily in Texas. The company’s philosophy revolves around locating and exploiting well-known deposits of oil and gas to keep costs low and investor returns high. Vortex Resources was recently acquired by Emvelco Corp., along with Davy Crockett Gas Co., to reorient Emvelco Corp. away from real estate investment and toward oil and gas exploration.
To understand Vortex Energy, one must understand the very short history of Emvelco Corp. in the oil and gas exploration market. Emvelco was originally Euroweb Inc., based in Hungary. Then it became a single-family real estate speculator in Los Angeles – filing its first 10Q for the first quarter of 2007. Not having any particular luck with real estate (where the market essentially imploded), it began working in natural gas – at the end of 2007 – with the purchase of Davy Crockett Oil & Gas. Here, the company had great first-drill success with solid gas strikes. Apparently, the company is now moving on with Vortex Resources and another very likely first-drill strike at its soon-to-be Bartlett shale site.
September 4, 2008 has found the company signing a letter of understanding to acquire the aforementioned 12+ acres of land in the well-known and highly regarded Bartlett shale gas regions of Texas. The agreement is the first of many steps to be completed before the company can begin drilling at the site. For the most part, this longer-than-usual process stems from the acreage being tied up in ownership, deep within the paperwork of Blackhawk Investments Ltd., a British concern. This is not to suggest that the unwinding process will not occur, but perhaps at a slower pace than might usually be the case.
In any event, testing at the site does indicate proven and probable reserves for up to 108 wells. Each well, if successful, should be capable of supporting over 1 billion cubic feet of gas. If not for the overall company’s (EMVELCO) general luck in finding gas deposits quickly, it would have an excellent fallback position in the paperwork administration aspects of real estate. Lightening has struck once for the overall company; there is little reason that it cannot strike twice with Vortex Resources Corp. as it readies to drill at Bartlett.
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