We are an "Enhanced Oil Recovery" (EOR) company that primarily concentrates its efforts in the areas of re-entry and re-working of existing oil and gas wells. EOR utilizes state-of-the-art oil deposit identification and recovery methods, such as seismic analysis and horizontal drilling, that enables significant increases in the production of existing oil and gas wells. We are not an "exploration company" in the sense that our business and our methods do not involve an attempt to explore for new oil deposits but rather to exploit existing known oil and gas fields. Modern EOR techniques free oil significant oil deposits that were not recoverable before. The company currently controls leases in Central and East Texas. We have developed strategic relationships through which it can execute plans to acquire existing lease assets that will give NTE control of millions of barrels of oil and gas reserves beyond its current TX holdings.
Our primary operational mission is to rework existing oil and gas wells and perform drilling and development of new oil and gas wells. This mission is achieved through the development of high-quality properties that possess long-term production opportunities. Our business model and employment of the latest proven technological EOR techniques and drilling methodologies will enable the company to maximize the production of commercially viable oil and gas reserves. We are committed to being a premier oil and gas company. To that end, we must continuously achieve superior financial and operating results while simultaneously adhering to high ethical standards. We are committed to enhancing the long-term value of the investment dollars entrusted to us by our shareholders. By operating the company profitably and responsibly, we expect our shareholders to be rewarded with superior returns. This commitment drives the management of our company.
Our engineering management team has more than 140 years of combined oil and gas operational management and field operations experience. The management and engineering teams have extensive expertise in the areas of petroleum engineering, drilling and extraction, EOR, geology, and environmental engineering.