The information on this website is for informational purposes only and is not a solicitation to buy, or an offer to sell, securities or other investments. Oil and gas investments are speculative in nature, involve a high degree of risk, and are not suitable for all investors. An investment could result in partial or complete loss of the principal investment. Persons considering these investments must be accredited, sophisticated, and otherwise qualified to make them. Offers can only be made through a Private Placement Memorandum.

Uncertainty of Oil and Gas Exploration and Production
Exploration and development for oil and gas is speculative and involves substantial risk of loss. There can be no assurance that oil and/or natural gas will be found, or that if oil and/or natural gas are found, it will be of sufficient quality or quantity to make a profit or return the invested capital.

Liability of General Partners
If a partnership's assets are not sufficient to satisfy all claims against the partnership, each general partner will be jointly and severally liable for the liabilities and recourse obligations of the partnership, and in connection with operations.

Possible Liability of Limited Partners
While limited partners are generally protected from losses exceeding the amount of their investment, it is possible that a limited partner will be treated like a general partner (thus subject to unlimited liability) if certain legal requirements are not met.

Limited Transferability
Typically, direct investments in oil and gas exploration partnerships contain restrictions on the transferability of a partner's interest. In many cases, partners are not permitted to transfer, assign, or pledge partnership units without the consent of the managing partner.

Limited Liquidity
Typically, there are not any established resale markets for interests in direct participation programs in oil and gas exploration. These programs are usually offered and sold for investment only and should not be acquired with a view to any resale or distribution thereof.

Absence of Registration under Applicable Securities Laws
Direct participation programs in oil and gas exploration are not registered under applicable federal or state securities laws, but instead are offered and sold in reliance upon exemption from such registration under the law. Therefore, the terms of direct participation programs are not reviewed by a regulatory authority.

Tax Risks
Taxation can have a significant impact on the after-tax return on investments in direct participation oil and gas programs. Efforts to quantify the tax implications of such an investment are inherently risky because the tax laws are subject to change and tax implications are heavily dependent on each investor's unique financial and tax circumstances. Investors should consult with a tax professional before considering any investment in a direct participation program.

Other Risks
It is virtually impossible to contemplate all the potential risks faced by investors in drilling programs or any highly speculative business venture. Before investing in a direct participation program, potential investors should seek professional advice regarding the risks involved.