SOURCE: Synergy Oil LLC

August 22, 2011 06:00 ET

Synergy Oil LLC Drills Into the Mississippi Lime Black Gold Mine

OKMULGEE, OK--(Marketwire - Aug 22, 2011) - Synergy Oil LLC has discovered success in the city of Perkins, Payne County, Oklahoma. The company has just completed a 4660-foot vertical well that has logged three pay zones classified as Commercial grade; actual flow rates should be available in the next 7 to 10 days. The new well coupled with their latest discovery puts Synergy Oil LLC in a very lucrative position.

Synergy recently discovered that a large portion of its acreage resides atop the Mississippi Lime formation. This geological marvel is one of the largest reservoirs of oil and natural gas in North America. Companies such as Chesapeake Energy and Pablo Energy also own leases in Kay County, Oklahoma. Both of these companies are actively drilling horizontal wells into the Mississippi Lime formation, just a few miles away from Synergy Oil LLC's Kay County lease, with results between 350 and 3000 barrels of oil every day.

Factors like these make it easy to see what the company's next move should be. While oil prices remain high, even with the recent market turbulence, Synergy Oil LLC continues to increase its holdings and its overall value. "There has never been a better time to diversify your holdings into the energy sector," said Robert Falco, Vice President of Synergy Oil LLC.

Synergy emphasizes three key benefits of its program: quarterly returns, risk management, and government tax incentives. The IRS allows approximately 75% intangible drillings costs (IDC) to be written off in the first year, along with tangible drilling costs (TDC), and a 15% depletion allowance off the quarterly distributions.

Based on industry standards, in the next three years, companies in similar circumstances as Synergy Oil LLC can achieve a market valuation for their assets between 100 and 150 million dollars.

Contact Information

  • Contact:
    Robert Falco
    Vice President
    Synergy Oil LLC
    Toll-Free: 888.333.1933