Through Carson Energy Inc., Yale Resources owns a half Unit in the Chevron McNeil #4 3D / Rainier #1 3D Joint Venture. Both wells are producing oil and gas wells with the McNeil #4 well located in Live Oak County, Texas and the Rainier #1 well located in Pointe Coupee Parish, Louisiana.
This Joint Venture generates a profit monthly that is split between the various partners. Yale's initial investment in the Joint Venture was recouped during 2008 thus all income generated for the projected remaining 10 year life of the wells is profit.
Having monthly cash flow is unique to an exploration company and Yale uses this income to offset a portion of the Company's monthly operating expenses.
Through is partnerships with other companies, Yale Resources owns the following shares:
