Innocent is a
development stage oil and gas exploration and production company focused on
developing properties in North America. In a recent letter to the shareholders,
company President and CEO Wayne Doss outlined a new business model designed to
require less investor funding upfront and institute tighter management control.
“We have decided
that the future business model will consist of opportunities with less initial
funding requirements to prove the opportunity, greater management control over
the expenditures, and a mandate to operate with our partners as a team,” he
stated. “Management firmly believes this approach can be the winning formula
that finally provides the company (with) both a realistically financeable and
controllable operation.”
Innocent has been
focused on developing properties in North America, while planning to minimize
the risk of exploration through development of proved petroleum reserves, and
maximizing profit through strategic acquisition and liquidation of selected oil
and gas properties. Through improvements in oil and gas production
technologies, they seek to rapidly increase production levels and generate
predictable, sustainable value.
One of the company’s
newest areas of interest for development is The Powder River Basin of Wyoming,
particularly where the objective oil-bearing formations are less than 2,500
feet below the surface. Doss explained to the shareholders how this newly
announced exploration opportunity will tie into Innocent’s 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,” he stated. “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.”
Adhering to its
narrow, clearly defined strategy, Innocent is focused on 100% acquisitions and
joint-ventures designed to maximize its production capacity. For more
information about the company, and plans for the future, visit www.innocentinc.com.
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