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Oil and gas exploration, development and production involves a high degree of risk, uncertainty and the actual results are beyond management's control. It is impossible to accurately predict or forecast production volumes and operating expenses. The primary risks, include but are not limited to, a dry hole, failed completion, non-commercial water encroachment, pressure-depletion, non-commercial volumes, increases lease operating expenses and indefinite delay of timelines beyond the control of management. Other investment related risks involve price fluctuations / decline, production volume decline and dramatically increasing lease operating expenses. The actual results from an initial area of drilling may support and justify a proposed drill-site substitution by management. An economic slowdown, market down-turn and increased state and federal regulations could also make it more time consuming, difficult and expensive to raise capital, and there may be many additional risks not known by management at this time.
General Investment Risk: