G&F Oil inc. – Ritchie projects – status -updated – 3-29-20

March 29, 2020: G&F Oil inc. – Ritchie projects – status -updated – 3-29-20


Hi All

I will send you a weekly update every Saturday and let you know how we are coming along so you can keep your investors up to speed.

We didn’t get much work done this week mostly just lining everybody out. We had the electrical boys out and showed them all the issues. They were able to repair the electrical panel for the #7 well so it is ready to run when we get the well head piping repaired. They are coming back next week with some special equipment to find the main electric line problem. This line feeds the power to the #9 and #10 wells. Hopefully that doesn’t turn into a major ordeal.

We had the fiberglass repair guys out. There are three places that the fiberglass piping is broken and needs to be fixed including the well head piping around the #7 well head. They plan on coming Monday or Tuesday to make the repairs.

I lined out the roustabout crew yesterday on all the work we have to do around the tank battery area. They will be back next Wednesday to start all their work. I estimate it will take them about a week to get everything done.

Also, had the dozer guy out. He will fix the area behind the tank battery so it won’t flood the whole area every times it rains.

Lastly, I am a little concerned about what the Coronavirus might do to us. They are getting more and more adamant about people not leaving their houses unless it is an emergency.



Gary has received the first amount of money we have sent to him, he expects to start next week, the area has received some rain, which we know too well, but mother nature we do not control. So the plan is to start the work GET the sources into production and do everything else out in the fields. $ 24 a barrel, white this level continues, one option would be to temporarily close the sources and wait for better prices, no need to sell our oil for no money. more about this when the sources are in production and we know how the market is at this time, things are changing rapidly in these times.



We need to help G&F Oil inc. by completing the JOAs (Joint Operating Agreements) that all investors must approve and sign, Which we have said yes to, we expect everyone is done at the end of this week, when this is ready everyone will be advised via email, here in it will be clear what needs to be done on the part of the investor.


Feb 13th - 2020

Jann has had the flu for 5 days so we don’t have the AFE write up, JOA’s or assignments ready to send to you. I did talk to the previous operator(John Rainwater). He said he met you in Graham when y’all visited. He had the old pay decks for the Ritchie #1 and Ritchie Waterflood. This is huge help for us as Wayne could not find any of the paperwork. It appears the NRI’s are in the 76-77 range. I am having this double-checked but I imagine this is going to be correct. I will try to get you the paperwork as soon as possible as I know you need that to get your investors to put up the money and I need the money before I start the reworks.

Feb 5th - 2020

To all investors

G&F Oil, expects to be able to send us the necessary documents next week. i.e. new operator agreement, renovation budget etc.

As soon as we have these ready, we will send an email to everyone with a guide on what to do on your part.