Basic Earth Science Systems Inc.

• Public
• US

Dow Jones Description

Basic Earth Science Systems, Inc. (Basic or the Company) is engaged in the exploration, acquisition, development, operation, production and sale of crude oil and natural gas. The Company's primary areas of operation are the Williston basin in North Dakota and Montana, south Texas and the Denver-Julesburg basin in Colorado. Company Developments Strategy Basic continues to make exploration and development drilling its primary means of growing oil and gas reserves. This strategy, adopted in the fiscal year ended March 31, 2002, follows a decade of pursuing a property acquisition strategy. Initially estimating that it would take five or more years to internally develop and finalize drilling prospects, the Company chose to "fast-track" this transition. To accomplish this Basic has aligned itself with small companies that generate drilling prospects and sell a portion of those prospects to recoup their front-end costs and reduce their own drilling cost burden. Basic initially was aligned with a single prospect generator. By fiscal year end March 31, 2004, the Company was pursuing opportunities from three prospect generators. During the fiscal year ended March 31, 2005 the Company focused on solidifying these relationships. Basic hopes to have five prospect generators by the end of the current fiscal year ending March 31, 2006.

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Peer Companies

• Linn Energy LLC
• EnCana Corp.
• Occidental Petroleum Corp.
• Enterprise Products Partners L.P.
• Anadarko Petroleum Corp.
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