APDR - Apollo Drilling, Inc. Message Board

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Gold/Mining/Energy : APDR - Apollo Drilling, Inc.

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From: jmhollen	4/4/2005 4:54:08 PM
	of 62

The BC&D Acquisition Apollo began its asset development program through the acquisition of BC&D Oil & Gas Corporation. This is a small exploration and production company that owns 151 producing wells. BC&D’s proven reserves average over 4,400 barrels of oil per month. Its holdings are found in the Four Corners area of New Mexico. The wells are in need of upgrades to improve their productivity. The Company plans to perform rudimentary repairs to and upgrades of certain wells and wellhead equipment in order to increase the average monthly production, possibly by as much as 200 percent. The Company plans to to re-complete 10 additional wells in order to produce natural gas. The re-completions could yield an average of 250MCF per well, per day. Additionally, the company intends to drill three new gas wells in the area. When completed, these wells could yield an average of 500MCF per day per month. Oklahoma Pipeline Systems Apollo has begun to acquire a series of intrastate pipeline systems, which the Company plans to convert from crude-oil lines to natural-gas-transportation lines. These are located in Oklahoma, principally in the northeast and south-central areas of the state. Area 1, south-central, will be in partnership with Cimarron Transportation, LLC, a pipeline company with significant pipeline assets in the area. New interest and recent activity to drill and produce the Woodford Shale play have occurred here. Our pipeline is one of the only lines in the area and runs directly through the new drilling activity. Apollo and Cimarron have a revenue share agreement in place to develop the numerous opportunities with this pipeline system. Area 2, includes Oklahoma’s northeastern Cherokee Basin – known for its abundance of coal-bed-methane gas. Our lines can service much of this area including Osage County – Oklahoma’s highest natural gas producing county. These lines have a diameter of 6-10” and are ideal for transporting low to medium pressure gas. .

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