Finding tomorrow's oil — today
Black Star 231 President Jim "Blacky" Pryor in Kansas in 1985
Pryor in Honduras in 2008
Pryor in Oklahoma in 1989
Pryor and Vice-President of Honduras Congress in 2008
Welcome to Black Star 231
Jim "Blacky" Pryor
President of Black Star 231 Corp.
Black Star 231 Corp. is different from other independent oil & gas companies. For one thing, it's run by a person who has been personally finding and producing oil for thirty years; over a quarter of a century in the "School of Hard Knocks". The oil & gas "industry" these days is populated by too many naive newcomers who came out of college with their business or economics degrees, or left their jobs at accounting or investment firms, figuring they could just apply their "knowledge" and "experience" and get rich in the business of drilling oil wells. These outfits generally come on the scene during an "up" cycle in oil prices, then fail to survive the following "down" cycle, leaving abandoned holes and disappointed (if not furious) investors in their wake. Black Star 231 is different. The man at the helm has thirty years of acquired knowledge and experience with oil & gas reservoirs, geology, drilling and completion engineering, production and enhancement methodologies, and oilfield practices which, combined with a passion for the subject, makes him the person others come to for advice about their drilling programs.
Black Star 231 embraces an exploration strategy that has been used to build oil companies reserves for 100 years. This strategy takes advantage of the cyclical nature of the price of oil to drill exploration wells when the price of oil is lower, and develop resulting discoveries when the price of oil rises. During times of lower oil prices, the services and materials necessary for exploration are discounted and readily available. This creates an opportunity to stretch exploration funds to allow more wells to be drilled, and reduce the impact of any dry holes drilled.
Beginning in the summer of 2008, Black Star 231 began devoting significant resources to identifying new prospects for drilling programs to be launched in 2009. This plan was implemented as oil prices were rising, in anticipation of the current climate of lower oil prices. Detailed mapping and geophysical projects were concentrated on areas where the company has experience, and where the company maintains a proprietary database. This strategy has yielded prospects across eastern Kansas, from the shallowest areas in the far eastern part of the state, to deeper areas in the west. The company also identified promising oil prospects in the under-explored northwestern corner of Missouri. Prospects now completed or near completion target reserves of 300,000 to 2,000,000 barrels of oil per prospect. Shallow wells (under 3,500') with the potential of discovering fields with producible oil reserves in this range present a very favorable risk/reward scenario. The market contractions of 2008 created the "perfect storm", which in turn created the perfect opportunity to maximize profits in 2009, and beyond.