Besides getting an empty hole, is there a down side to horizontal drilling for oil in an existing vertical hol

I ran out of space in the answer above so the last word is hole. I have been asked to purchase shares in a horizontal re-entry oil well drilling project. The well produces about 20 barrels a day now, but the sales dude says they expect from 100 to 600 BPD once the horizontal drilling is complete. I figure that that number is an exageration, but 10 to 15 years of payments does sound like a good thing. Any comments or past experiences would be benefitial.Besides getting an empty hole, is there a down side to horizontal drilling for oil in an existing vertical hol
I agree it sounds like a con. I do know that most oil well drilling projects lose money. Oil drilling companies make money because the few projects that make money, more than make up for the ones that lose money. Unless you are an expert in oil drilling, do not invest in oil wells. They are probably selling a well no oil company is dumb enough to invest in.Besides getting an empty hole, is there a down side to horizontal drilling for oil in an existing vertical hol
It sounds like a con. But just in case its not, Google the name of the company involved together with all the parties concerned. If you still don't like what you see, then trust your gut feeling and don't go for it.





But whatever you do, please check out everything, every word of small print before you part with your money.





Put your Beverley Hillbilly experience on hold for the time being.