HOUSTON, Dec. 16, 2013 /PRNewswire/ – With the year-end fast approaching, many investors are looking for the best possible oil and gas investment opportunities. Fossil Oil Company, LLC offers some of the most lucrative oil and gas investment opportunities available.
There are many kinds of oil and gas investment vehicles available, all of which involve a degree of risk/reward and the management of that risk. Among these are stocks, bonds and options in oil and gas companies; commodity contracts in oil and gas activities, and limited partnerships.
In all of these vehicles, the investor is dependent on the overall success of the group or company, rather than the production of the well in which he or she is investing.
Because it is by far the most attractive investment opportunity for its partners, Fossil Oil Co. LLC, utilizes the Joint Venture exclusively to fund and manage its oil and gas drilling opportunities. Continue reading →
Fossil Oil Company, LLC of Houston, Texas perforated and tested the Bandit Prospect #1 well on January 7th, 2013. This deep 15,000’ Cook Mountain (Yegua Sand) formation tested on a conservative 7/64th choke 140 Barrels of Condensate and 1.3 Million Cubic Feet of Gas. Currently, the Operator is preparing to construct the production facility (tank batteries) and pipeline hook-up to Duke Energy’s interstate pipeline system. Congratultions to the investors that are in this oil & gas investment.
Many key federal tax rules affecting individuals will “sunset” at the end of 2012 unless Congress acts otherwise to extend or permanently enact those provisions. As year-end is approaching quickly, it is wise to be aware of what to expect in 2013, absent further legislation.
Key tax law changes affecting individuals beginning in 2013 if prior laws’ sunsets go into effect:
- Ordinary income-tax brackets – The 10% bracket goes away, with the lowest bracket being 15%. The size of the 15% bracket for married individuals filing a joint return will be less (167%) than twice the size of the 15% bracket for individual filers, as it is currently. The top four brackets rise from 25%, 28%, 33%, and 35% to 28%, 31%, 36%, and 39.6%, respectively.
- Taxation of capital gains and qualified dividends – Generally, long-term capital gains will be taxed at a maximum rate of 20%, an increase from 15%, for higher bracket taxpayers. A 10% rate applies to individuals in the 15% tax bracket. Qualified dividends will be taxed at ordinary income-tax rates (up to 39.6%), as opposed to receiving capital gain treatment, as under current law.
- Reduction in itemized deductions – For higher income individuals, most itemized deductions will be reduced by 3% of adjusted gross income (AGI) above an inflation-adjusted threshold. Reduction cannot exceed 80% of the amount of itemized deductions otherwise allowable.
Houston, Texas August 28, 2012 – Fossil Oil Company, LLC announces its current 3-D seismic based project Fossil – Texas Gulf Coast Oil Well Joint Venture. This well is located in the well-established Cottonwood North Field in Liberty County, Texas and is to be drilled to a total depth of 16,200’ to test the prolific Cook Mountain formation. We are currently drilling at 12,935’.
The Fossil-Texas Gulf Coast Oil Well JV’s Operator has contracted with Precision Drilling Company’s Rig #86 to drill the Bandit Prospect Well #1. The reserve potential for this 3-D seismic based prospected has been estimated to be a total of 800,000 Barrels of Oil and 16 Billion Cubic Feet of Natural Gas to the 8/8th. The Bandit Prospect is on strike with other Cook Mountain discoveries in the area producing from 5 Million to 25 Million Cubic Feet of Gas per Day (MMCFPD) with oil yields up to 130 Barrels of Condensate (Oil) per Million Cubic Feet (MMCF). The prospect is further supported by subsurface geological control from nearby producing wells.
Fossil’s President, Dennis R. Kittler has stated, “The 3-D seismic data on this well affords Fossil the strongest reasons to believe that the estimated recoverable reserves are highly achievable. This well has the potential to be a ‘company maker’ as well as a significant producer for our JV partners”.
Fossil Oil Company is an independent oil and gas exploration and production company whose management and consultants collectively have more than 130 years’ experience in operating and generating oil and gas investment opportunities for high net worth individuals. For more information about Fossil Oil Company, LLC, please visit www.fossiloil.com or email@example.com.
Fossil – North Ingram Prospect Well #1
May 30, 2012 – CONGRATULATIONS JV PARTNERS – OUTSTANDING CORE RESULTS!) – Fossil management just received the attached Conventional Core Analysis Results from Weatherford Laboratories in New Orleans. Fossil Oil’s technical staff stated that this Core #1 Analysis is by far the very best that they have ever logged in all of Fossil’s Alabama wells. What this Core #1 Analysis is showing:
- 34 Feet of Continuous Dolomite Oil
- High Permeability’s
- High Porosities
- High Oil Saturations
- Low Water Saturations
- High Gravity Oil (API 45)