Innocent, Inc. (INCT) Well-Positioned to Capture Share of Wyoming’s Second Oil Boom

The state of Wyoming is expected to have produced roughly 63 million barrels of oil in 2013, placing it eighth in the Energy Information Agency’s U.S. crude oil production rankings, according to the February 2014 Wyoming State Geological Survey (WSGS). The Powder River Basin is at the forefront of the state’s oil production, heading up what many are calling a second oil boom.

While this second boom is estimated to be smaller than the original boom that peaked at 160 million barrels in 1970, oil production in the state has steadily increased in the last five years. Current production is up nearly 12% from 2009, with more than 57.5 million barrels of oil produced in 2012, reports the WSGS.

Innocent, Inc. is a development stage oil and gas exploration and production company focused on developing properties in North America, particularly in the Powder River Basin of Wyoming. The company’s strategy is to mitigate the risk of exploration through development of proved petroleum reserves while maximizing profit through strategic acquisition and liquidation of selected oil and gas properties.

The company specializes in acquiring low-risk, high-upside properties that have demonstrated substantial exploration potential. Utilizing the latest improvements in oil and gas production technologies, Innocent aims to rapidly increase production levels and generate predictable, sustainable value.

The company is especially focused on areas in the Powder River Basin where objective oil-bearing formations are less than 2,500 feet below the surface. In general, prospects will be direct offsets to former production or to wells with excellent oil and gas shows. The expected lower API gravities of the oil will require secondary recovery via water, gas, or other floods, including steam or fire flooding. To fully capture its potential in the basin, the company also plans to employ new methods of radial horizontal drilling in the reservoirs.

Innocent’s joint-venture partner Evergreen Petroleum is working closely with the company to explore oil-bearing formations in Wyoming, leveraging its more than 150 years of experience in the oil and gas industry. Evergreen is conducting regional and local geological studies to define prospects that are worthy of acquiring oil and gas leases, selecting areas to lease, drilling exploratory wells, drilling development wells, and producing oil and gas found.

By partnering with industry experts such as Evergreen, Innocent has acquired extensive technical guidance and field management experience. In combination with Innocent’s experience management team, this partnership positions Innocent to capture its share of the Powder River Basin boom.

For more information, visit www.innocentinc.com

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