Michael Slavin

You get 100% tax write-off.

Once the well is flowing, you start getting checks every month off the well.

If it flows, right?

Of course.

We have hit about, well, there's two stages in my company.

The first stage, I was doing very wild stuff, which I really was on a learning curve myself.

And we probably hit about 30% of those.

But I switched over about 10 years into my company.

I started doing wells only with what's called PUD, proved undeveloped, and only with 3D.

And our hit rate went up to about 85% to 90% after that.

Oh, we would raise anywhere from a few hundred thousand to a million dollars.

And we never had 100% of a well.

We'd only have a piece of the well.

And that would pay for all the drilling.

And we turnkey to completion.

So we assumed all the risk and the overrun stuff.

But, you know, we'd make about 20% there, but then where we really made our money is off the pieces of the wells that we owned ourself or put our money into those.

Every time we had a joint venture, we also bought a piece of the well for our own account and were along for the ride with our own money.

Well, Exxon would never do it.

There are tons of smaller companies.