Armed with a
revamped, enhanced and precise strategy, Innocent has set out to execute its
business plan for the upcoming year.
“We believe that the
newly announced exploration opportunities in the Powder River Basin of Wyoming
meets our current company business model. We will operate in our backyard, with
proven professionals in the oil and gas industry, and structure the operating
agreements in a manner that all involved will share on the rewards. The funding
requirements will be line item detail, the expected return will built on a
conservative basis and the assumptions will be clear and defined. This way we
will be able to adjust the operating plan to maximize gains and minimize losses
and not be committed to excessive amounts of capital prior to seeing the
rewards of the operation,” CEO Wayne Doss said in a recent shareholder letter.
As noted above,
Innocent is focused on the Powder River Basin of Wyoming where oil-bearing
formations are found 2,500 feet below the surface, though other prospective
areas of interest will be explored in the future.
In regards to
reaching oil with lower API gravities (the American Petroleum Institute’s
measurement of the weight of the petroleum compared to water), Innocent will
employ various secondary recovery methods, including via water, gas or other
fire flooding. New methods of radial horizontal drilling in the reservoirs will
also be utilized.
With more than 150
years of experience in the oil & gas industry, Evergreen will be general
manager of the Powder River Basin Exploration Project. Evergreen has conducted
and will continue to conduct regional and geological studies to identify prospects
that are worth of acquiring oil & gas leases. The operator of the drilling
venture will be L & J Operating Inc. of Gillette, Wyo.
Innocent continues
to move forward under the strategic guidelines of its revised plan of action,
working in collaboration with key industry partners to achieve a “realistically
financeable and controllable operation.”
For more
information, visit www.innocentinc.com
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