Julian P Kornfeld

US Patent:

20060173760, Aug 3, 2006

Filed:

Feb 3, 2005

Appl. No.:

11/050561

Inventors:

Julian Kornfeld - Oklahoma City OK, US

International Classification:

G06Q 40/00

US Classification:

705035000

Abstract:

The present invention relates to a system and method for funding a drilling fund using the established benefits of tax deductions and/or losses associated with the drilling of oil and gas wells. More particularly, the present invention relates to a system having computer software which provides searching and documentation functions to aid in the creation, marketing, management, and reporting of the drilling fund in accordance with applicable tax laws. The system first identifies potential investors for the drilling fund based on niche investor criteria by searching though entity information to create a niche investor database. Offering materials for the drilling fund are generated by the system for each potential investor so that the drilling fund can be marketed to the potential investors. Once an interested investor invests in the drilling fund and monies are expended for drilling, the tax losses begin to flow to the interested investor. During the life of the drilling fund, reports setting forth the operational and financial progress of the drilling fund are periodically generated by the system and disseminated to the investors. Further, the system can generate other relevant documents, such as federal and state tax return schedules and forms.