About Eno Petroleum Corporation

Eno Petroleum Corporation-NV (“EPC”) was established in 1983 as a California Corporation.  The Chairman and CEO of EPC, Larry Milnes, prior to starting EPC was the President of Federal Lease Filing Services Corporation.  The knowledge gained by the servicing of applicants for the Oil and Gas Leasing program of the Department of Interior and Bureau of Land Management, and the geological evaluation and selection of available oil and gas mineral leases prepared Larry for acquisition of oil and gas mineral leases through the Government’s KGS Competitive Bidding System.  EPC was very successful from inception through the acquisition of over 63,000 acres of KGS mineral leases which were first resold with the retention of a 2.5% overriding royalty interest and right of first refusal, followed by drilling programs.  The first drilling venture of EPC was in 1985 with the funding of the ENO/TAYLOR-INA Drilling Partners Ltd, involving a very successful 10 well program in the Taylor-Ina Field, Medina County, Texas, with Bellis-Weaver, Petro-Silver and BP Operating. 

 

Activities continued through consulting and the brokerage of system’s natural gas for long term contracts for co-generation projects.  EPC was successful in supplying 20 year gas contracts, to include the negotiations of pipeline transportation contracts, for co-generation facilities like Tenaska of Paris, Texas, as a result of long term supplies from Enron, BP, and North American Resources Corporation.  EPC has produced over 108 wells in Texas in its history, and has participated as a non-operating industry partner with standard 1/3 for 1/4 basis on prospects involving 38 wells in Texas, Louisiana and California.

 

It was decided in 2004 to suspend and dissolve the California Corporation, and a Nevada corporation of EPC was formed in June of 2005.  This action was taken due to the expiration of assets (generally depleted wells and expired leases) of EPC of California, and to better financially structure the company for the current global oil crisis.  The Chairman/CEO of EPC of Nevada after over 4 years of research of the global oil crisis, the anticipated price escalations, and the relationships of major Joint Venture partners, feels that EPC is poised to attack the extraordinary opportunity to utilize every contact, experience and insider knowledge gained over 29 years experience of various aspects of the oil industry.  


EPC has experienced some hard financial lessons relative to its pursuit of more difficult and deep drilling programs involving directional drilling with the objective of locating the "elephant reservoirs".  These higher risk programs add many different elements of risk better suited for much larger companies.  The success of EPC has been grounded in the low risk, shallow vertical drilling and moderate Estimated Ultimate Recovery reservoirs that continue to produce over 10 to 15 years with extremely attractive economics, commonly known as "the bread and butter" of the industry. 

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