 Rockwell Energy of Texas is an independent energy company that is engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas of the United States. We conduct our primary operations in Texas, but have the capability to manage properties in any other petroleum producing state. To date, we have grown almost exclusively through the acquisition of producing properties and prospects. We strive to enhance our asset value by expanding our oil and natural gas reserves, raising production levels and increasing cash flow. We intend to foster our growth as an independent oil and natural gas company by implementing the following business strategies: "  We plan to achieve asset, revenue and cash flow growth, and increase the value of our assets, as a result of the acquisition and further development of producing oil and natural gas properties. We plan to maintain financial strength and flexibility through effective management of debt and equity. The primary source of growth capital is derived from private investments from qualified individuals, investment institutions, and oil/gas industry partners.  We plan to take advantage of opportunities that exist in the United States to acquire producing oil and natural gas properties. We continue to focus our acquisition activities onshore in Texas, New Mexico, Oklahoma, and Louisiana in order to complement our existing properties and operations; however, we also intend to review potential acquisitions in other regions of the United States if they represent a significant concentration of energy-related assets. We prefer to acquire properties with production from shallow to medium depths, which offer lower geologic and mechanical risk of operations. We believe that numerous opportunities exist to acquire additional energy assets and to enhance the value of those assets through improved operating practices and by aggressively developing reserve potential.  We plan to exploit existing oil and natural gas properties and to conduct development evaluation and drilling on our existing and future oil and natural gas properties. We intend to concentrate on enhancement opportunities such as infill/development drilling, recompletions, secondary recovery projects, remedial repairs and equipment changes. We may participate, from time to time, in a limited number of exploratory wells.  It is our goal to increase our number of producing properties to the point where our existing level of overhead is fully utilized. This will enable us to manage our properties at the most efficient rate for a given level of resources. We will seek to optimize the use of internal resources, and outsourcing for all supporting functions such as independent consulting geological and engineering evaluations.  We plan to increase exploitation efforts, focusing on established geological trends where we can employ geological, geophysical and engineering expertise. We are considering the application of 3-D seismic and advanced drilling and completion technologies (i.e., horizontal drilling, CO2 fracture stimulation, specialty sidetrack drilling ). Rockwell has financed our past acquisitions and development of properties through cash flow from operations, industry partners, individual investors, and bank borrowings. Our primary strategy in the near future is to participate in joint ventures in exploration and developmental wells on a limited basis as a partner with other oil and natural gas companies in order to reduce the risk inherent in these activities. We prefer to act as operator of the oil and natural gas properties and prospects in which we own an interest. Primary responsibilities of the "operator" of oil and natural gas properties are as follows: ► Supervises production ► Maintains production records ► Contracts with field personnel to oversee the general operations of the properties ► Performs other functions required for the production of oil and natural gas ► Monitors performance, both operating and financial, necessary to optimize cash flows derived from the properties |
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