Armed with a revamped, enhanced and precise strategy, Innocent has set out to execute its business plan for the upcoming year.
"We believe that the newly announced exploration opportunities in the Powder River Basin of Wyoming meets our current company business model. We will operate in our backyard, with proven professionals in the oil and gas industry, and structure the operating agreements in a manner that all involved will share on the rewards. The funding requirements will be line item detail, the expected return will built on a conservative basis and the assumptions will be clear and defined. This way we will be able to adjust the operating plan to maximize gains and minimize losses and not be committed to excessive amounts of capital prior to seeing the rewards of the operation," CEO Wayne Doss said in a recent shareholder letter.
As noted above, Innocent is focused on the Powder River Basin of Wyoming where oil-bearing formations are found 2,500 feet below the surface, though other prospective areas of interest will be explored in the future.
In regards to reaching oil with lower API gravities (the American Petroleum Institute's measurement of the weight of the petroleum compared to water), Innocent will employ various secondary recovery methods, including via water, gas or other fire flooding. New methods of radial horizontal drilling in the reservoirs will also be utilized.
With more than 150 years of experience in the oil & gas industry, Evergreen will be general manager of the Powder River Basin Exploration Project. Evergreen has conducted and will continue to conduct regional and geological studies to identify prospects that are worth of acquiring oil & gas leases. The operator of the drilling venture will be L & J Operating Inc. of Gillette, Wyo.
Innocent continues to move forward under the strategic guidelines of its revised plan of action, working in collaboration with key industry partners to achieve a "realistically financeable and controllable operation."
For more information, visit innocentinc.com
QualityStocks provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.qualitystocks.net