Friday, March 28, 2014

Innocent, Inc. (INCT) Looks to Powder River Basin of Wyoming for Pronounced Growth

An emerging oil and gas exploration development company, Innocent is focusing on development of energy resource properties in North America. Led by a capable leadership and technical team with over 140 years of experience, the company is targeting proven petroleum reserves in order to cut down on risks and costs associated with property exploration.

For stronger gains, Innocent has created and stuck to a narrow, clearly defined business strategy, consisting of 100% acquisitions and strategic joint-ventures. Leveraging its technical team’s savvy and experience in identification of high-potential oil and gas properties, the company is concentrating its efforts on two fronts. It is engaging in development of properties with low-risk and high-upside, and making strategic acquisitions and liquidating select oil and gas properties for profit maximization.

Currently, Innocent is focusing on the Wyoming-based Powder River Basin. The basin covers a sizable area, spanning around 120 miles east-to-west and 200 miles north-to-south. The Powder River Basin has an established reputation for its strong contributions to American energy production. In 2013, state statistics showed that the Wyoming-based oil industry produced over 60 million barrels of oil. It was estimated that the Powder River Basin accounted for one-third of that production. Other reports feature projections of Wyoming’s oil production extending past 66 million barrels of oil in 2014.

In this 24,000-square-mile area, Innocent has identified the areas where the objective oil-bearing formations are less than 2,500 feet below the surface as its target area. The company has also shown interest in expanding its exploratory activities to other promising sites in Wyoming and South Dakota as well. For general management of the project, Innocent has tapped the expertise of Dallas-based Evergreen Petroleum, a well-established and capable company with over 150 years of experience in the oil and gas industry. The drilling operator will be L & J Operating Inc. of Gillette, Wyoming. L & J Operating will be responsible for a host of duties, inclusive of: obtaining the required bonds, preparing relevant paperwork, selecting all contractors and suppliers, handling payment of all invoices, taking care of sale of produced oil, and other functions. Innocent and Evergreen will carefully supervise all details.

With its diverse and experienced company and technical leadership, Innocent looks to take advantage of the Powder River Basin’s strong reputation for sustainable production value, and build itself to continuing, robust growth for the long-term.

For more information on Innocent, visit: www.innocentinc.com

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