a Norris Industries (NRIS) company, is an exploration-stage oil and natural gas company, focusing on the primary and secondary recovery of Hydrocarbons. (IWP) is an exploration-stage oil and natural gas company that focuses on the acquisition, development, and exploration of crude oil and natural gas properties in Texas. The Company has recently prospected several lucrative exploration projects in
the prolific Bend Arch region which is approximately 120 miles long and 40 miles wide running from Archer County, Texas in the north to Brown County, Texas in the south. This area has been one of the most active drilling areas during the recent resurgence of United States drilling activities. The Company’s management team believes that the Company has the capacity and capability to take potential oil and gas reservoirs and develop them from the ground floor to completion. We are looking to acquire several high potential acreage that possess proven reserves of hydrocarbons. From evaluating seismic data, to the final steps of drilling, testing, completing and proceeding to production, our staff has expertise in geology, petroleum engineering, geophysics and mechanical engineering. The Company is currently developing several acquisition candidates including existing hydrocarbon production and proven reserve hydrocarbon land leases capable of additional drilling located in the Bend Arch/Fort Worth Basin. Unlike many major oil companies that often drill very deep wells with a high degree of risk, the Company is a specialist in shallow well exploration (3,000 to 6,000 feet) that is less expensive and has lower risk factors in general. The Company is aiming to develop multi-well drilling programs in Coleman County of Texas as our first core project. This program shall execute drilling to an estimated depth of 4,600 feet which will place the wells into the geological formation known as the Ellenberger Formation. Our developmental data shows that there are a total of up to five (5) potential oil and gas producing zones between the surface and the Ellenberger Formation. Our core business strategy is to: (a) acquire petroleum exploration companies with moderate production growth and add capital infusion to instigate explosive growth; (b) acquire new high-potential hydrocarbon land leases and perform initial exploration on those leases to add value as “proven reserve” properties and then sell them off at multiples of the cost basis; and (c) acquire existing oil and gas production with large reserves, to increase the Company’s value via revenue enhancement.
