The Company and its Vision

Vision manages its exploration efforts very efficiently. It already owns licenses to over 1,000 square miles of 3D data and over 400 linear miles of 2D seismic data, and adds approximately 100 square miles of 3D data and 50 miles of 2D data to its inventory each year. Our Program Participants can choose whether to simply participate in the assembly and marketing of each prospect, or in its drilling as well. The Program has a clearly defined exit strategy. Management overhead is fixed and reasonable, and certain tax benefits pass through to the Program investors. The prospects that are currently inventoried have significant reserve potential and represent a very balanced and exciting portfolio.

As a prospect generator and project manager, Vision Exploration is capable of moving faster and more aggressively than the competition. Vision's staff handles all 2D and 3D seismic interpretation in-house; provides complete well planning and log analysis; manages all lease acquisitions; and has already established an excellent reputation for negotiating complex land and legal agreements with much larger companies and lessors.  Our prospect marketing packages are considered some of the best in the business, and we have exhibited at the North American Prospect Expo (NAPE) every year since our inception.  Vision's network of clients and contacts in the greater MAFLA area also provides a steady supply of "external" lease and farm-in opportunities, as Vision has evolved since 2000 into one of the most sought-after energy consulting and prospect marketing shops in the Gulf Coast.  From the Black Warrior Basin to the Gulf of Mexico OCS, we've demonstrated our ability to cause drilling activity - and find production - on our clients' leasehold.

Oil and gas exploration is exciting and harbors enormous financial potential. But there are many risk factors to be considered, every step along the way. Vision's Exploration Program is specifically designed to expose the investor to the financial upside while minimizing those risk factors. It is important that every investor that we work with be fully informed of these and other risks associated with oil and gas investments (in other words, be industry-experienced and SEC-qualified); accordingly, we ask that you please read our Disclaimer.

Most importantly, the staff of Vision Exploration enjoys an enviable reputation within the industry. Our investors and industry partners have the confidence of knowing that Vision Exploration will manage its business and the Exploration Program with only the highest ideals of honesty and integrity.

Our Exploration Philosophy

Timing is everything.

Beginning approximately eighteen years ago, the emergence of three dimensional ("3D") geophysical acquisition, processing and interpretation transformed the domestic oil and gas industry. Some of the ramifications of this new technology were immediately obvious, and positive; certain unintended consequences also later became apparent.

At first, the 3D imaging was confined to the "illumination" of large fields, and proved to be fairly successful in the revelation of untested fault blocks and stratigraphic traps previously hidden from view. As this first wave of field redevelopment reached its zenith, attention was then focused on imaging prospective areas which had already been identified with older 2D technology, yet required the new 3D imagery to decipher complex fault or stratigraphic patterns. Finally, many speculative 3D programs were launched, which succeeded in imaging large portions of the onshore Gulf Coast area of the United States, as well as the Gulf of Mexico.

The major oil companies, having undergone massive consolidation throughout the same period, subsequently abandoned the Lower 48 and focused on deepwater and international projects. Those smaller companies that filled the resulting void in domestic exploration and production were swept up in the 3D "revolution". Consequently, a disproportionate amount of capital spending was directed at 3D seismic acquisition. Not surprisingly, as drilling capital correspondingly diminished, the number of wells drilled during the same time period declined dramatically. The situation deteriorated further when many companies adopted the misguided policy of requiring that a 3D survey either be acquired or provided over every drilling prospect under consideration.

But 3D imagery is a tool, not a panacea. Many companies had acquired 3D data over large geographic areas and identified numerous drilling prospects; however, the high cost of acquiring the 3D survey(s) meant that companies usually had to focus on drilling the biggest (and often, the riskiest) target first. If that initial well did not result in a large commercial discovery, then frequently the company simply abandoned the area - leaving many other (oftentimes less risky) traps untested. Many of these 3D surveys are now available for licensing through either the acquiring company, a third-party broker, or - in many cases - large mineral lessors that received a copy of the 3D data in accordance to requirements set forth in their seismic option, lease, or permit.

The recent oil price downdraft of 1998-1999 crippled most domestic oil and gas producers. This led to an accelerated decline in new drilling, domestic production, and reserve replacement. Yet demand for both oil and gas continues to rise. So will the demand for new drilling prospects. While oil prices have improved, and natural gas prices are higher, the uncertainty associated with the overall economy and the recent wave of terrorist attacks - and this nation's response to those attacks - continues to focus concern on the need to increase our domestic production.

Vision Exploration believes that these factors create many opportunities for investors to capitalize on the current availability of numerous 3D surveys and lack of competition in domestic exploration. Many excellent opportunities also present themselves in the form of HBP farmouts - complete with 3D surveys - over prolific, established fields. However, the investor is encouraged to remember that, as part of a balanced prospect portfolio, 3D seismic technology is best viewed as a useful but not mandatory risk management tool.

Combined with an impressive inventory of bypassed pay - type prospects (which inherently have a low risk character), and "home run" frontier plays, such 3D projects enable Vision Exploration to offer an Exploratory Program designed to offer high ROI potential on both sides of the deal: on the front end, in the share of proceeds that result from the sale of the prospect (see the charts immediately following this paragraph); and similarly, in a participatory share of the potentially large revenue from production, should one elect to participate on the drilling side - and take advantage of certain important tax benefits.

The Ideal Prospect

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