SHALLOW OIL AND GAS PROJECTS
Annabelle I
Homeland Energy Ventures' first drilling program was completed in March of 2005. The Annabelle (First) Drilling Program (A-1) is comprised of three wells on the Annabelle lease in McKean County.
Annabelle II
Homeland Energy Ventures' second drilling program, the Annabelle Second Drilling Program (A-2), is a 12- well project located on the Annabelle lease in the Allegheny National Forest. Excavation began in the Fall of 2005 and all twelve wells were completed and producing by June 2006.
Keystone
The Keystone Drilling Program (Keystone) is Homeland's third program. The Keystone program, completed in mid 2007, is comprised of 17 wells, 8 of which are located in the Allegheny National Forest, McKean County. The remaining 9 wells are on private acreage in Warren County, PA.
Homeland 4
The Homeland 4 project consists of 14 wells in Northwest Pennsylvania, all of which are producing commercial quantities of oil and gas. This project was funded in December 2007 and to date has returned more than 75% (excluding tax benefits).
Homeland 5
The Homeland 5 project is comprised of 21 wells in Northwest Pennsylvania, and is currently in the process of being drilled.
Homeland 6
The Homeland 6 is comprised of 60 wells under Homeland leases, which are currently being surveyed and permitted.
Homeland 7
The Homeland 7 consists of 4 wells in the City of Warren in Warren County, which are currently being surveyed and permitted.
Homeland 8
The Homeland 8 Project is a 27 well program in Warren County, Pennsylvania. Geological studies show the presence of the Glade, Clarendon, Ball Town, Cherry Grove and Tiona formations throughout the leases.Traditionally the Clarendon and Cherry Grove sands will be oil producers, while the Glade, Ball Town and Tiona formations will be gas producers. Project 8 marks the 4th Homeland project funded by institutional investors.
Homeland 9
The Homeland 9 drilling program consists of 50 wells in the Alleghany National Forest in Forest County, PA. This project was funded in December 2009 and is the fifth drilling project funded by inst itutional investors for Homeland.