OIL & GAS

Drake intends to focus on domestic, mature oil fields which eliminate the exploration risks whilst recognizing the preferred investment criteria of investors and funding groups. The use of enhanced oil recovery (“EOR”) technologies includes surfactant/fracturing stimulation, surfactant-polymer technology, and water flooding methods.

The company has targeted the acquisition of 300 wells in the Appalachian Basin. This targeted region has over 15,000 marginal or non-producing wells due to the following:

• Neglect;
• Small, independent owners lacking resources
• Financial inability of owners to invest in rehabilitation;
• Lack of access or knowledge of new technologies;
• Desire to exit given current market price of oil;
• Other reasons specific to each lease.

The company intends to initially secure options for wells on a number of properties in Venango County, PA, and then expand to other regions of the US based on the amount of funding available, cash flows generated, and value of the leases. Research indicates that secondary oil has never been recovered in the Venango Sandstone Formation. Hence, our  longer term strategy will be to reinvest the majority of cash flows that are generated.

Estimates have the proven secondary oil reserves at approximately 330 million barrels (1 Million Barrels = 1 MMbls) of oil in the Appalachian Basin Reservoir, based on a report by the US Department of Energy, with OOIP (Original Oil in Place) remaining reserves exceeding 60 billion barrels. 

Drake’s continuing operating strategy will be to seek out, evaluate and acquire interests in those oil and gas projects that in the opinion of management fit the following criteria:

• Proven producing oil and gas reserves with substantial development potential;
• Proven reserves that can be activated with appropriate financing;
• Low-risk drilling and development costs;
• Good access to infrastructure to bring to market;
• Ability to generate profits and cash flows in a short period of time;
• Potential as highly undervalued assets.
  

REAL ESTATE

Drake intends engage in community based real estate development focusing on social, environmental, and economic sustainability with the maximization of profits

Zoning is RH (High Density Residential) which is a high density multi-dwelling zone. Density is not regulated by a maximum number of units per acre. Rather, the maximum size of buildings and intensity of use is regulated by floor area ratio (FAR) limits and other site development standard. Generally, the density will range from 80 to 125 units per acre. Allowed housing is characterized by medium to high and a relatively high percentage of building coverage. Generally, RH Zones will be well served by transit facilities or be near areas supportive of commercial services.

Subject properties must include access to public transportation services. Targeted areas receive a significant share of the city’s growth as future developments will transform the areas surrounding into a mixed-use areas of retail, office, and housing with a correspondingly high level of pedestrian amenities.

As an example, developers may utilize the Transit Oriented Development (TOD) Property Tax Exemption through the Portland Development Commission (PDC). The TOD is a ten-year property tax exemption established to support both high density housing and Mixed-Use developments that are affordable to a broad range of the general public along vacant or underutilized sites along transit corridors where design and features encourage building occupants to use public transit.

Drake has been managing an investment with a real estate development company since August 2009. At this time Drake intends to wind up, dissolve or otherwise terminate agreements it has with this company to prepare for the new acquisition targets. Details will be released via OTC Market filings once material agreements have been finalized. 

PRECIOUS METAL MINING

Drake intends to engage in exploration, development, mining, processing, property acquisition, marketing of products, small-scale mining operations and revitalization of old and abandoned mining properties into profitable business in collaboration with joint venture partners.

Drake’s vision and mission for the development of the mining industry is to partner with joint venture partners in order to acquire abandoned mines with proven reserves that may have been left for centuries. Similarly, it will develop an environmentally friendly and sustainable operation adopting the best mining practices projecting low Capital Cost projects yet income generating business with optimization in the extraction of valuable minerals while at the same time aiming to provide community enrichment by strengthening local governance and enhancement of the living standards of the employee and community as a whole bringing sustainable economic growth.

Drake intends to acquire land leases on properties known to have gold deposits. The business will then develop gold mines on these properties with the intent to extract, smelt, and package the gold into bars for sale onto the open market. The initial capital sought in this business plan will allow the business to acquire its first land lease while concurrently sourcing the equipment needed to operate a moderate sized gold mining operation.

Mining and quarrying of gold is a $3 billion dollar a year business in the United States. Within the industry there are over 200 domestic providers of gold mining operations that operate within 20 states. The industry employs more than 10,000 people and provides adjusted annualized payrolls in excess of $500,000,000 dollars. The growth rate of this industry has been tremendous with the recent resurgence of inflation. The prices of gold (and other precious metals) have increased substantially as investors have sought the safe haven of commodities in lieu of the falling value of the dollar in addition to the global economic risks. Additionally, the greater wealth of developing nations has pushed the per ounce price of gold passed $800. This demand is expected to remain strong in the face of inflationary pressures.