Nettlecombe Oil Co. Inc. was incorporated in April of 1991. Nettlecombe is an oil & gas exploration firm that utilizes advanced geophysical technologies to find oil and gas accumulations, primarily along the Texas coastal plain and in South Texas.
The company has been in the petroleum industry for many years, as shown attached in the "Our Team" section. Our Chief Geophysicist, Bill Ferguson has been in the Petroleum industry for 40 years with 18 years in gas exploration while our Chief Geoscientist, Paul Habermas has 33 years of experience with 18 years in exploration and Our Chief Geologist. Charles Winn has 40+ years experience and a Geophysicist working with us since 2012.
Nettlecombe’s first well was the Johnson #1 in Lavaca County, Texas. It was drilled from a “bright spot” on a seismic chart and it was a successful well which eventually produced over 1 billion cubic feet ( ~ 28.5 million cubic meter ) of natural gas. From this first project, Nettlecombe has been on a successful performance curve, with a success rate of about 70% through year 2002. From 2002 to the present, another increase to around 90% utilizing the latest 3D seismic imaging and state-of-the-art attribute and neural Network technologies.
Nettlecombe began exploring for natural gas in the Miocene, Frio, and Yegua sands in Texas because we felt that the seismic frequencies and amplitudes in the shallow and intermediate-depth sand sections were more valid, dependable and less risky than looking for deep structural plays.
When Nettlecombe first began, it utilized friends and small investors to participate in the drilling of wells. This was initially satisfactory until unforeseen contingencies would occur, making it obvious that the prospects were under-financed. Nettlecombe has since decided to restructure its mode of operations, commencing the generation of prospects from its large seismic data base and, utilizing “Lease Bank” funding partners to obtain leasehold and to help pay for the overhead and expenses for generating the prospects. Nettlecombe presently takes some cash and an overriding royalty interest upon the sale of its prospects to an outside party.
Under the relationship envisioned, Nettlecombe would commit to a joint venture with the new partner in exchange for a working capital commitment and the right to participate in the funding of drilling prospects and other selected oil & gas projects such as “engineering plays” in which the company is often invited to participate.
The research required for prospect generation is normally pursued in conjunction with subsurface geology and elements of petroleum engineering. In this respect, Nettlecombe has excellent energy industry associations that establish the impressive scope of their business approach: i) geophysics & geology; ii) petroleum engineering; iii) land & legal and: iv) Prospect & feasibility studies publishing.
In addition to log and seismic modeling plus direct drilling experience, Nettlecombe has grown to understand the importance of good petroleum engineering and vigilance in production operations as adjuncts to effective earth science. Through careful selection of its industry partners, Nettlecombe thus intends to continue minimizing the risk in drilling prospects.
Nettlecombe’s vision is to continue drilling shallow and intermediate-depth gas prospects as its core business, then promote to large oil companies the drilling of deeper, higher-risk prospects. Depending on the initial cash commitment, we think capital recovery would occur within two years of each cash call, then provide further multiples of such equity contributions during the succeeding years of oil & gas production. Nettlecombe has developed many associates throughout the years and would like this new unity to participate in some deeper well with people we know who have been highly successful on deep prospects.