10 Well Drilling Program Northwestern Pennsylvania

Mclaughlin Lease Drilling Program 2011-2 JV, a 10 well drilling project.

The following are certain highlights associated with an investment in Mclaughlin Drilling Program 2011-2 JV.  Prospective Investor Co-Owners should review this entire Memorandum prior to making any investment.  The offering is only open to accredited Investor Co-Owners.

The Offering:

•	Minimum 25 Units ($844,250.00) and a maximum of 50 Units ($1,688,500.00) of Project Interests.  The offering is only open to accredited Investor Co-Owners.

•	Price of $33,770.00 per Unit: Minimum of One Unit per Investor Co-Owner.  Open only to Accredited Investor Co-Owners.

•	Investor Co-Owners in the Program may be eligible for certain tax benefits, including deductions for Intangible Drilling Costs, Tangible Drilling Costs and Percentage Depletion.  Intangible Drilling Costs may represent up to 80% of the total drilling costs. Intangible Drilling Costs will be specially allocated to the Investor Co-Owner other than Utica Resources Inc. & Affiliates; a proportionately greater share (up to approximately 80%) of the amounts invested will go toward funding the Program’s IDC’s.  See “Summary of the Offering – Certain Tax Considerations,” and “Tax Aspects – Project Operations” and “Depletion”, for discussion of the deductibility of Intangible Drilling Cost, Tangible Drilling Cost and Percentage Depletion.

The Drilling Program:

•	Mclaughlin Drilling Program 2011-2 is planned to be drilled through the Venango Group sands to the BallTown which is in the Bradford Group of hydrocarbons.  The depth of the project well will be an estimated 1700 to 2200 feet and will be located in Warren County in the Commonwealth of Pennsylvania.

•	The wells will be in the proven Venango Group Sands and the Bradford Group of sands in the Upper Devonian Sands with high probability of commercial oil and gas production. (See attached Geology Report).  These wells are primarily oil producers. If it is discovered that the cost of producing and/or transporting the natural gas exceeds potential revenue, the wells will only be completed to produce oil. A refund per unit will be issued to each investor as outlined in page 4 (Tangible Drilling Costs).

•	Utica Resources Inc., will act as the “Operator”, and Utica Resources Inc. will act as the “General Contractor”.  The leases have been acquired by Utica Resources Inc., which controls various oil and gas leasehold acreage in the Commonwealth of Pennsylvania and Northeastern Ohio.
•	Drilling Operator:    Utica Resources Inc., a Pennsylvania Corporation

•	   General Contractor:  Utica Resources Inc., a Pennsylvania Corporation. 

Customer Problem or Area of Opportunity

Great Returns plus 100% tax deductible 

Describe Product or Service

We lease, at the present time we have over 2000 acres signed. We Promote, most all the money to drill which comes from our investors. We get the Permit, build the location and drill the well. We Frac & Complete the new well. We Produce & maintain the wells we drill.  We drill both shallow oil & gas well down to 2800 ft in the Upper Devonian Sand and deep wells down to the Beekmantown Group at approximately 7200 ft. All in the state of Pennsylvania

Market

People with tax issues and investors looking for a good return on their money.

Sales & Marketing Strategy

Talk to as many interested people as I can, The SEC really limits your marketing of Joint Ventures in the oil & gas business so I introduce my programs to CPA'S, accounting firms and network with as many groups of investors as possible

Management Team

Utica Resources Inc. is a Pennsylvania Corporation.  Utica Resources Inc. was formed in 2010 by Ronald Coleman, Timothy Coleman and Jon Malis who are also its President and Executive Vice Presidents.

To date, Utica Resources Inc. and its direct affiliates have secured developmental leases spanning around 1500 acres in northwestern Pennsylvania. Over $3,800,000 was raised to date to drill a total of eighteen “shallow” combination oil and gas wells and two “deep” oil & gas wells. All 20 wells are currently producing in marketable quantities.  Utica Resources has a 100% completion record.

The management and control of the Project operations will rest with Utica Resources Inc., which will have responsibility for the administration, operation, and supervision of Project activities.  T

Utica Resources Inc. has a seasoned team of highly successful oil and gas industry personnel with a team of executives who have a collective 90 plus years of experience. 

Ronald D. Coleman, (President)  

 Ronald has the responsibility to wear many hats at Utica Resources Inc.  Ronald oversees the leasing of the property, the geology, title searches, signing of right ways, environmental studies and surveying, all needed to obtain a drilling permit. Ronald deals directly with the Pennsylvania DEP to get the drilling permits approved quickly.  Once the project starts you can find Ronald on location managing all drilling, fracturing and completion operations.  Ronald is very involved in the field work from start to finish of every project; he works hard to protect the investors that put their trust into Utica Resources Inc. 

Ronald, a second generation oilman started training in geology at a very young age and has held just about every job thought up in the oil field at one time or another.  Brought up in the oil & gas industry Ronald started working in the late 1970’s for his father who owned Coastal Petroleum Corp. in Lorain Ohio.  Coastal Petroleum drilled and produced over 500 shallow oil wells in the vicinity of Oil City Pennsylvania and over 1600 deep oil & gas wells throughout Ohio and Pennsylvania.  Ronald was a big part of the field operations at that time. 

 In the late 80’s Ronald moved from Ohio to California and started 3-D Drilling & Pump systems.  He used his oil field experience in the water well drilling industry by selling, choosing the location, drilling, hydro fracing and installing pumping systems for over 500 water wells throughout Southern California.  In 2004 Ronald re-entered the oil & gas business.

Timothy D. Coleman (Executive Vice President) 

Tim, a second generation oilman, started working in the oil and gas industry in the 1970’s for his father, who owned Coastal Petroleum Corp. Like Ronald, Tim has done it all in the oil patch at one time or the other.  For the last 16 years Tim has specialized in drilling and producing shallow Venango sands oil & gas wells around Oil City Pennsylvania and he is a veteran of over forty oil and gas wells that he has been a part of.  Tim has promoted, drilled and produced oil & gas wells in Ohio, Pennsylvania, Texas and California. 

Tim is in charge of all investor relations for Utica Resources Inc. and he manages our office and sales team.  If any questions might come up it is Tim’s job to get them answered promptly. Tim is also the one that will be giving the tour of our operations and will be introducing our team to our prospective investors on any due diligence trips that might come up. 

Jon Malis (Executive Vice President and Controller)

	Jon is a married father of two residing in Wexford Pennsylvania. His strong family values and dedication to his friends and neighbors has made him a pillar of his community, often volunteering his time and resources to help others less fortunate.  His formal education includes a bachelors of science in business administration with concentrations in accounting and management from Robert Morris University.  He also holds several computer technical certifications and is a licensed Pennsylvania Real Estate Sales Person and also a Notary. 

Jon’s responsibilities as Executive Vice President and Controller for Utica Resources include preparing monthly financial and management accounts, business budgets and forecasts, managing cash flow and working cross functionally in order to insure efficient project implementation.  Jon is also in charge of all our investor updates, he is the one you the investor will be seeing in our weekly videos on u tube.  Jon is Utica Resources go to guy; he’s well versed in every aspect of the oil & gas business.

Business Model

A happy investor is our goal from the start and to get a happy investor that keeps investing you must get his or hers money back as fast as possible. Our Drilling Programs average a 3 year payback. The Coleman Family has a 98.5% completion rate since 1969 and Utica Resources Inc. has a 100% completion rate! Our number one goal BOTTOM LINE make the investor Happy!!

Competitive Advantage

Being a small independent oil & gas drilling company.

Barriers to Entry

The offerings that are being made available only to “accredited Investor” as defined by Rule 501(a) of Regulation D under the Securities Act. Utica Resources Inc. reserves the right to reject any and all subscriptions

Competitors

Range Resources Corp.  Atlas Resources Corp. Kastle Resources Enterprise Chesapeake Appalachia LLC or anyone else drilling oil & gas wells in Pennsylvania.

Employees

20 employees

Next Steps

Press the Contact Now button to send and inquiry about the listing

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