United Exploration (the “Company”) a Wyoming USA corporation is offering thirty (30) units of fractional undivided working interests (the “units”), which represents 100% of the Working Interests (WI) and 75% of the Net Revenue Interest (NRI) in the Billy L. #1 Well (the “First Well”) to be drilled in the Minnelusa Formation, that’s located in the Powder River Basin of Wyoming, USA. The Well will be drilled to a depth of approximately 6200 feet or a depth sufficient to test the Objective Formation. And if warranted and completed and equipped on a turn-key basis in an effort to obtain oil and/ or gas production in Commercial Quantities. Each unit is being offered at the price of $120,000 per Unit. Investor subscription will be placed in a segregated bank account until fifteen (15) Units are subscribed and paid for, at which time the funds may be used to pay expenses of the Offering. Thereafter, Units will continue to be sold; however, Units remaining unsold at the time the offer of Units is closed will be purchased by the Company for its own account.

Hanaway Draw Investment Summary

Manager: United Exploration LLC
Operator: United Exploration LLC
Target: Minnelusa "upper B" 

Location: Crook County, Wyoming

Number of Wells: 3

Billy L No. 1

Mary A No. 2

Bella No. 3

Income Conversion

BARRELS PER DAY: 900

PRICE PER BARREL: $50

GROSS MONTHLY INCOME: $1,350,000

WELL/ACREAGE COST

$3.6 MILLION

This is figures on the gross revenue.