Arnco Oil has obtained oil and gas leases in Overton County,Tennessee.  This acreage track comprises of 330 acres.

 

Arnco has drilled 10 wells in the Goose Creek Field.  Each of these wells were drilled on the Union Bank and Trust property.  Six of these wells are currently producing while two are going to be reentered and deepened to test the deeper Murfreesboro and possibly the Knox payzones.  The wells in this oil field produce from the payzones in the Sunnybrook,Stonesriver, and Murfreesboro formations.  Initial production rates ranged from 60 BBLS per hour for the Union Bank # 9A, 45 BBLS per hour for the Union Bank # 8A, and 52 BBLS per hour for the Union Bank # 11A.  Arnco cut daily production rates to avoid a rapid depletion of reservoir pressure and insure a maximum recovery of the reserves currently in place.  This has been a very profitable venture for Arnco and their investors.  As of December 31, 2003, this lease has produced over 65,000 BBLS  of crude oil.  This field is an extension of the “Doc Billings” #1                                                                                                                                            which was drilled in July,1979 less                                                                                                                                                        than one mile to the west of  this oil                                                                                                                                                           field.  This well initially produced                                                                                                                                                    over 200 BBLS of oil a day.                                                                                                                                                                             Total  revenues from this well was

over  $10,500,000.

 

With the price of Crude Oil at a                                                                                                                              high of  around $50.00 per BBL

Arnco is in the process of  evaluating

 the geology on the Goose Creek

Prospect to decide which direction

 to explore next.      

  

 

 

 

 

 

 

 

                                                                             Union Bank 2A & 11A

 

Oil Prospect

      Keeping America Strong.

ARNCO OIL & GAS

P.O. BOX 2661

COOKEVILLE,TN 38501

931-526-7655

barnold@arncooil.com

     Crude Oil

         Price