Exploration for oil and gas is a capital intensive endeavor, and the sudden and severe change in environmental conditions has drastically reduced this necessary resource. The critical missing element in the oil and gas industry right now is not the lack of economically viable projects, rather, it is the lack of capital. However, by breaking with the traditional relationship between a service company and an oil company, projects can be "financed" today without the need for an intermediary such as a bank. Cox Oil & Gas, Inc., among others, has been successful at structuring a program which has achieved getting wells drilled for their account without having to allocate any of their own capital resources.

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