Bowling Green, Kentucky (PRWEB)
September 18, 2017
Encore Energy, Inc. is a bonded well operator in the state of Kentucky and the most active well operator in south central Kentucky. Encore has recently expanded its operations to Johnson and Lawrence counties to develop multiple horizontal Berea oil well projects.
Encore has successfully drilled and currently testing a horizontal well in Johnson County, the Encore Adkins Bud #H1. “We are very pleased with our results thus far and are currently making preparations for crude oil production operations to begin”, said Steve Stengell, Encore’s President CEO and Chairman. “Based on our preliminary results and extensive data from the Bud #H1, we are making plans and preparations to drill three (3) immediate horizontal well locations”, added Joseph Hooper, Encore’s Executive Vice President and Director. Qualified SEC defined accredited investors can deduct 100% of the intangible drilling costs against all forms of federal and state income, which typically results in a 40 – 50% immediate out-of-pocket tax savings in the first year.
The Company firmly believes there exist tremendous opportunity for Kentucky’s oil and gas industry to improve and apply state-of-the-industry horizontal well technological improvements to eastern Kentucky where the horizontal Berea oil production already represents more than 20% of the state’s annual oil production, potentially creating literally thousands of highly-skilled and highly-paid jobs in the Commonwealth’s most rural areas. “Encore most recent horizontal well operations supported an estimated 75 highly-paid and highly-skilled jobs near Paintsville”, added Stengell.
Oil and gas investments involve a high degree of risk and are only suitable for SEC defined accredited investors who can afford the loss of their entire investment (SEC Regulation D, Rule 506(c)). For more information and/or to see if you qualify as an SEC defined accredited investor, please contact Joseph Hooper at (270) 842-1242, ext. 224 and visit us on the web at http://www.encore-energy.com
Assumptions, Disclaimer and Cautionary Statement: The information herein may contain forward-looking statements, and actual results may vary. Words such as “estimate”, “will,” “intend,” “continue,” “target,” “expect,” “achieve,” “strategy,” “future,” “may,” “goal,” or other comparable…