Series 22: Exploratory Programs

Exploratory Programs

Exploratory programs seek to locate properties that are likely to hold oil and gas reserves. Also called wildcat programs, they explore unproven, undiscovered, often remote properties, and the risk of finding nothing but a dry hole underneath are a highly likely outcome. A successful program can reap extremely high rewards, but the exploration and drilling costs are very high, and investors should be prepared and willing to lose a substantial amount or all of their investment. Whether the program will net a return is only known after the