In today’s complex investment climate, there’s no substitute for the savvy that comes only from years of hands-on experience.

And when an opportunity to benefit from such experience comes along, wise investors stop, look and listen.

More often than not, they profit as well.

Many “accredited investors” have already moved their investment dollars from equity markets and jumped at an opportunity to hunt for black gold under the guidance of a specialist. Some have utilized dormant RRSP funds.

Larry Darling says there has never been a better time to invest in oil and gas.

By doing so, they’re demonstrating faith in a knowledgeable oilpatch veteran named Larry C. M. Darling, a geologist by training who has spent decades absorbing the finer points of the energy business.

Darling, well known as president of Enhanced Resources, has put years of study into his latest oilfield venture.

It’s a unique, tax-friendly exploration and development drilling program which operates under the name of Dar Drilling Funds Ltd.

“There isn’t anything out there exactly like this plan. It’s a flow-through investment fund that utilizes and maximizes tax advantages offered by the Canada Revenue Agency,” Darling explained.

“Dar Drilling Funds Ltd. is a flow-through company,” he continued. “That means the tax advantages flow through to the shareholders.”

Dar Drilling Funds Ltd. offers “accredited investors” an opportunity to tap into high profits being generated in the oil and gas business while simultaneously limiting their risk.

But as Darling freely admits, even the most attractive investment carries with it some element of danger.

The key is to anticipate where the risk lies and to formulate a plan to keep it to a minimum.

Dar Drilling Funds is just such a plan.

Here’s how it works. At a price of $1,000 a unit, subscribers are invited to join the corporation with a minimum investment of $20,000.

Then, by taking advantage of existing CRA tax legislation, they can look forward to writing off as much as 85 per cent of the total unit subscription price from their 2004 taxable income.

This is just one of several safeguards built into the Dar Drilling business plan.

As Darling points out, the Canadian Income Tax Act allows small corporations to treat up to $1 million of Canadian Development Expense (CDE) as Canadian Exploration Expense (CEE) in each calendar year.

Therefore, Dar Drilling shareholders will be able to deduct, effective in 2004, CEE and CDE incurred up to December 31, 2005.

That ties in well with the Dar Drilling exit strategy, which will kick in within a maximum of two years.

In addition, the corporation has been set up as a pool or fund, which means the cost of any dry holes drilled will be offset by profits from the producing wells.

Of course, Darling hastens to remind investors that it’s reasonable to expect dry holes in any drilling venture. Of 22,000 wells drilled each year, about 65 per cent turn out to be dry.

“Nevertheless, we’ll have a pool of 10, 15 or 20 wells. Our investors should realize a nice profit,” he said.

There’s another important point to be made. At least seven of 10 wells drilled will be “development” wells, also known as step-out wells.

These wells are situated adjacent to the initial well in the field or situated between two or three other producing wells.

As Darling points out, development wells tend to improve an investor’s odds, with only one in four wells drilled coming up dry, a much more encouraging percentage.

Darling has already begun to line up trusted industry contacts to help him and his team of investors with this exciting, tax-driven business opportunity.

As senior manager of Dar Drilling Fund, he will manage day to day affairs of the corporation.

He will hire the necessary consultants and field personnel and will personally review farm-in opportunities, while keeping a close eye on all the corporation’s land, geology, legal and accounting needs.

Subscribers are assured that their investment remains in the hands of a thoroughly professional team, which includes corporate vice-president William C.K. Darling, BBA.

James Kerschbaum, CET, P. Eng., CFO is vice-president in charge of drilling and production, while Glen Klassen, CA, will assist in creation and supervision of the corporation’s banking and accounting operations.

Doug McCartney LLB, partner Eeson & Woolstencroft LLP, has created the documents necessary for new securities law for accredited investors. Collins Barrow, Calgary LLP, will serve as tax consultants.

To take advantage of this uniquely tax-driven opportunity, please contact the corporation at 403.265.7170 or send a fax to 403.246.6741.

Potential investors are invited to reach Larry Darling at the following email address: larry@larrydarling.com