Post by mullahpaloozer on Apr 27, 2016 20:16:39 GMT -4
April 22, 2016
RE: Update on NHE, Online Meeting Scheduled for 4/26/16
To All NHE Investors and Interested Parties:
The Reg D offering for New Horizons Energy, LLC is still open, but is nearing the end of Phase 1. A few people that have made commitments to invest have not followed through, which delays our ability to purchase more assets. If you signed a Subscription Agreement and have not sent your funds in, please do so as soon as possible. If you have questions about the offering, please contact me by phone or e-mail.
NHE is now invested into two oil/gas ventures, with a third under final evaluation. Our first venture in Eastland County, Texas is not producing oil/gas yet, pending the recompletion of well #1. The project is a 180 acre lease, with one disposal well and two drilled oil/gas wells that have produced in the past but are being recompleted into the Strawn formation in order to increase production. NHE owns a 37 ½% working interest in this lease.
We also hold a 33 1/3% stake in a group of two low-cost leases with three shallow oil wells. The wells have been producing 2 ½ barrels of oil per day. Our repairs and remediation work have been delayed due to extremely wet weather, but we hope to get into the field next week. It remains to be seen what the final production will be, but we will get a good ROI if we only make 2 ½ barrels per day consistently.
I have made a verbal commitment to pick up another 11 wells in Phase 2, 64 wells in Phase 3, and finally a total of 300 wells in Phase 4. However, we have the luxury of taking on these additional wells on a “farm out” basis, and only if we are satisfied with the results of the previous phase. Our engineer is doing final evaluations on the next 11 wells, and we will firm up the deal if his numbers look good.
I continue to evaluate numerous prospects as potential acquisition targets, in an ongoing effort to find the very best ROI and safest options for a start-up venture with limited capital. I have formed strategic alliances with several co-venture partners that are willing to invest alongside NHE as needed to take down larger deals.
I have scheduled an online meeting for NHE to be held Tuesday, April 26, 2016 at 8 PM CDT, using the Paltalk room designed for NHHI. Here are instructions for joining the meeting:
1. Download Paltalk Messenger (free download) and log into Paltalk.
2. Look under the heading “Business and Finance” rooms and under the subheading “Investments”.
3. When the room is open you will see the name “New Horizons Holdings, Inc.”.
4. Click on the room to join the meeting.
I will discuss all NHE business and will answer your questions during the meeting. I hope many of you will attend.
Thank you and God bless.
Steve Kirkpatrick
RE: Update on NHE, Online Meeting Scheduled for 4/26/16
To All NHE Investors and Interested Parties:
The Reg D offering for New Horizons Energy, LLC is still open, but is nearing the end of Phase 1. A few people that have made commitments to invest have not followed through, which delays our ability to purchase more assets. If you signed a Subscription Agreement and have not sent your funds in, please do so as soon as possible. If you have questions about the offering, please contact me by phone or e-mail.
NHE is now invested into two oil/gas ventures, with a third under final evaluation. Our first venture in Eastland County, Texas is not producing oil/gas yet, pending the recompletion of well #1. The project is a 180 acre lease, with one disposal well and two drilled oil/gas wells that have produced in the past but are being recompleted into the Strawn formation in order to increase production. NHE owns a 37 ½% working interest in this lease.
We also hold a 33 1/3% stake in a group of two low-cost leases with three shallow oil wells. The wells have been producing 2 ½ barrels of oil per day. Our repairs and remediation work have been delayed due to extremely wet weather, but we hope to get into the field next week. It remains to be seen what the final production will be, but we will get a good ROI if we only make 2 ½ barrels per day consistently.
I have made a verbal commitment to pick up another 11 wells in Phase 2, 64 wells in Phase 3, and finally a total of 300 wells in Phase 4. However, we have the luxury of taking on these additional wells on a “farm out” basis, and only if we are satisfied with the results of the previous phase. Our engineer is doing final evaluations on the next 11 wells, and we will firm up the deal if his numbers look good.
I continue to evaluate numerous prospects as potential acquisition targets, in an ongoing effort to find the very best ROI and safest options for a start-up venture with limited capital. I have formed strategic alliances with several co-venture partners that are willing to invest alongside NHE as needed to take down larger deals.
I have scheduled an online meeting for NHE to be held Tuesday, April 26, 2016 at 8 PM CDT, using the Paltalk room designed for NHHI. Here are instructions for joining the meeting:
1. Download Paltalk Messenger (free download) and log into Paltalk.
2. Look under the heading “Business and Finance” rooms and under the subheading “Investments”.
3. When the room is open you will see the name “New Horizons Holdings, Inc.”.
4. Click on the room to join the meeting.
I will discuss all NHE business and will answer your questions during the meeting. I hope many of you will attend.
Thank you and God bless.
Steve Kirkpatrick