Preserving and developing our natural resources with proven technologies. Through careful research and strategic planning we have acquired the Frank Farm lease on 50 acres with 12 wells and the Morrison Lease in Venango County on 396 acres with 60 wells. We are devoted to utilizing our experience and the most efficient methods to bring this oil to market. Research indicates that secondary oil has never been recovered in the Venango Sandstone Formation. Hence, our longer term strategy will be to reinvest the majority of cash flows that are generated.
To achieve the objectives of the company, Eagle is currently focusing on the following strategies and its main technologies. The current production in the oil and gas properties is only a small proportion of the total potential. With additional capital investment per well, each well can be brought on line. The market for the gas and the oil is not expected to plummet so the future revenue stream should stay steady with increases based on the number of wells put into production each year.