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An unmatched corporate address

T

he building is located in the 1 of the thriving Golden Triangle, the hub of the city's financial govern mental and commercial activity Within walking distance are fiheen Fortune 5/10 companies (three within the huilding itself

Directly across the street from 600 Grant Street are the Gulf Building, the Federal Court House the Federal Reserve building the Chamber of Com. merce. the Koppers Building, the Alcoa Building, the HK Poner Building, the new Mellon Bank Square and Mellon Bank Center, the Union Trust Building. and the Bigelow Apartment Hoxel.

Within a few blocks are the Allegheny County Court House. Saks Fifth Avenue. Kaufmann's. Gimbel's, the Hyatt Hote! at the new Chatham Center, the new David L Lawrence Convention Center, and the prestigious Duquesne Club Heinz Hall (where the city's ballet performs), the An Institute. Point State Park. Duquesne University, and the Civic Arena are less than a mile awa

The office tower is easily accessible 10 the city's major highways and numerous bridges. These access routes lead to the Greater Pittsburgh International Airport Qust likeen minutes away by car), the Limous Three Rivers Stadium (home of the Pittsburgh Steelers and Pittsburgh Pirates), the sprawling new One Suuon Square shopping and hotel plaza, and the surrounding suburbs Municipal local and express bus service stops at the front entrance of the building Busterminals for Trailways and Greyhound are down the block.

The cin's first subway system, the Light Rail Transit System, is currently under construction and scheduled for completion in 1985 The Midtown St. Lion will he located at One Mellon Bank Cenier across the street from the US. Steel Building which will be connected a the concourse level in the sution by an underground peclesinan passge

OIL AND GAS DRILLING PROGRAM

The 4 to 1 tax write-off derives principally from combining the current deductibility of intangible drilling costs with high leverage.

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This document does not constitute an offering of securities, it is presented for due diligence and analysis purposes only. An offer can only be made by presentation approved placement memorandum and pursuant to strict regulatory procedures This document and or the contents thereof are not to be reproduced or transmit

any member of the public or any potential investor in any manner whatever Any such transmission may constitute a violation of securities regulations

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The Codell Trend is one of the most recent and active drilling areas in the Rocky Mountain region, discovered in 1977 by extension drilling from the then developing Wattenberg Gas Field. The more than 600 wells drilled thus far by the industry have defined a productive area encompassing over 500,000 acres in the Denver-Julesburg Basin area of Colorado, located approximately 40 miles north of Denver. Developers of the Code!! Trend have experienced a 97% completion ratio with a potential of 12.000 more wells to be drilled on 40 acre spacing.

Based on public information released through Petroleum Information, Inc of Denver, Colorado.

JOINT VENTURE/OPERATOR

The Partnership will acquire its prospects through She & Thomas, Inc and TUNOil, Inc, both Colorado corporations. Shepler and Thomas, Inc. of Evergreen, Colorado will be the operator in drilling, completing anc producing of the wells included in the Windsor Limited Partnership. Shepler & Thomas, Inc. has been involved in: drilling and completion of several wells in the area on a consulting basis and for its own account. Shepler & Thor Inc. has the necessary in-depth knowledge and experience :he Codell Trend.

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TURN-KEY

The General Partner and Operator of the live wells will meet the growing deinand of investors for turn-key intangible drilling and completion costs.

By drilling and completing these wells on a turn-key basis. the possibility for future assessments that may arise out of cost overruns due to common drilling or completion hazards is eliminated from Limited Partner liability. The General Partner and Operator assume liability for these drilling and completion hazards, which can double or triple well costs. To the extent that the costs of drilling these wells exceed the turnkey price, the General Partner will be responsible for paying the excess cost. To the extent that drilling costs are less than the turn-key price, the General Partner and the Operator will receive additional compensation for the risks assumed in additional drilling.

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LEASES

Leases on the Prospects provided to the Partnership will have expirations of late 1984 through early 1985 and provide for net revenue interests of 75% to the working interest. All economic projections have been made on the basis of a net revenue interest of 75%

FINANCIAL RISK

With the advent of leveraged financing through cash and letter of credit, a potential good return could be converted to an excellent return on a cash-on-cash basis. Schedule A will show. on a per unit basis, the Limited Partners' contribution. estimated deductions, estimated payout summary, estimated return on investment and projected return on cash. These projections show that an investment of $21.182 could produce an approximate 2 to 1 return on the total investment, which is increased to a 64 10 1 return on investment through leveraged financing with an anticipated payout of approximately 36 mon.hs.

OFFERED THROUGH:

NEW SOUTH SECURITIES, INC. 619 S. Tyler Street, P.O. Box 15068 Amarillo, Texas 79105

(806) 373-8208
(800) 858-4112 U.S.
(800) 692-4112 TX

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