Ok here we go ... I have apprx. 11 pages of questions and answers ... if after this you have anymore please let me know.
SUMMARY
What are all the associated business locations for Arcon?
The main office of Arcon is Dallas, Texas with a branch office in Houston, Texas. The locations for the first large-scale production plants of DF-144 will also be located in Houston and then Dallas. The Bob West acquisition is 2290 acres in Starr and Zapata counties of south Texas. There are six producing oil wells with two reworks scheduled for March in the Michigan Basin, with leaseholdings to support an additional 80 to 100 wells.
How has the description of the business changed?
The original focus of the company was to develop bypassed oil in the Dundee formation of the Michigan Basin, by taking advantage of modern horizontal drain technology. Since then, that focus has expanded to conventional drilling of gas wells in Texas, and the acquisition of the patents and world rights to an octane enhancer in the gasoline industry.
What other associated industries does Arcon intend to explore?
Focus is only on the upstream and downstream segments of the petrochemical industry. This includes other drilling and production acquisitions, the blending of gasolines, manufacturing and marketing of petrochemical products, marine fuel and Avgas (aviation gasoline).
What are the subsidiaries associated with each arm?
The structure will be Arcon International Corporation which is the old Midland company, and under that will be the wholly owned subsidiary Arcon Energy which will be comprised of three divisions: Octane Blending, Oil and Gas Production division, and hopefully an Avgas division (aviation gasoline).
Are they operating?
Currently, only the Michigan Basin drilling program is ongoing.
What is the time frame to operation if not?
The first DF-144 production plant is under construction in Victoria, Texas with completion scheduled in May, test runs in June and fully operational in July. Work in the Bob West field will also commence second quarter with the re-work of the first of two to three existing wellbores, and the drilling of the first newly drilled location scheduled to commence thereafter, most likely late third to early fourth quarter.
Do you have a list of all facilities operating and future operations?
At this time, we have 6 producing wells in Michigan with two more scheduled for additional work in March. Plans are to continue development of additional wells, especially emphasizing the new discoveries in zones beneath our initial target within the Devonian complex. With regards to the Octane division, currently a DF-144 plant is being built in Victoria, TX with completion scheduled in April, operational on a trial basis in May and full production in June. The acquisition of the gas play in the Bob West field of south Texas will be to initially re-complete 3 existing wellbores, then expand development with new drilling activities.
What is the current status of the company?
We are basically a start-up company that has completed the due diligence stage of the Octane Enhancer and have acquired 2290 acres in the Bob West field of south Texas that will close in February and begin operations in April. The Bob West acquisition will close at somewhere between 4 to 7 million dollars depending upon the due diligence and will be financed through equity in the company. These two areas will be the primary focus for the rest of the year.
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