BusinessReport.com

Posted on July 7 at 4:53 p.m.

NOTE: Encore Acquisition also has quietly leased 208,000 acres in southeast Louisiana [East and West Feliciana, Pointe Coupee, St. Helena, Tangipahoa and Washington parishes] and southwest Mississippi [Amite, Pike and Wilkinson counties] in the past two years for one of its newest potential oil finds. According to the company’s first quarter earnings report, the area “could be a substantial new area of growth.” Two wells have been drilled, and one is producing an estimated 200 barrels of oil a day, a figure the company expects to substantially grow. QUESTION: Of the 208,000 acres leased, were there any homeowners that received proceeds now or will later receive from the two wells that were drilled? I am trying to understand the language of oil investors.

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