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Wildcat Well

A well drilled for the purpose of discovering a new field or reservoir.

Working Interest

An interest in a mineral property that entitles the owner of that interest to all of share of the mineral production from the property, usually subject to a royalty. A working interest permits the owner to explore, develop, and operate the property. The working-interest owner bears the costs of exploration, development, and operation of the property and, in return, is entitled to a share of the mineral production from the property or to a share of the proceeds therefrom. It may be assigned to another party in whole or in part, or it may be divided into other special property interests.

Write-Offs

That portion of an oil investment which is deductible for tax purposes. All intangibles are deductible. Participants should consult with their own tax advisors. The information contained herein is not, and is not intended to be, legal or tax advice.