Biloxi Marsh Lands Corporation Announces Unaudited Results for the First Quarter of 2021

Rhea-AI Summary

Biloxi Marsh Lands Corporation (BLMC) has released its unaudited financial results for Q1 2021, available on its website. The report highlights delays in the completion of proved reserves studies for its joint ventures, B&L Exploration, LLC (75% interest) and B&L Resources, LLC (50% interest), attributed to COVID-19 staffing issues. Consequently, the company anticipates these studies to be finalized by mid-2021. Investors are encouraged to check the website for comprehensive financial information and updates.

Positive

• None.

Negative

• Delays in completion of proved reserves studies due to COVID-19 staffing issues.
• Timeline for the completion of crucial reserves studies pushed to mid-2021.

Biloxi Marsh Lands Corporation (PINK SHEETS:BLMC) has posted its unaudited results for the first quarter of 2021 on the Company’s website, www.biloximarshlandscorp.com.

In our March 29, 2021 annual letter to shareholders, we reported that due to staffing and other issues related to COVID 19, B&L Exploration, LLC (“BLX”), in which the Company has a 75% membership interest, and B&L Resources, LLC (“BLR”), in which the Company has a 50% membership interest, delayed the completion of proved reserves studies until mid-year of 2021. Tables reflecting the volumes of reserves, are now available on our website, www.biloximarshlandscorp.com.

The Company recommends that investors and all interested parties visit its website, www.biloximarshlandscorp.com, to view historical press releases, historical financial statements, and other relevant information. All inquiries should be made through the Contact Mailbox on the Company’s website, http://www.biloximarshlandscorp.com/contact/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210629006053/en/

FAQ

What are the recent financial results for Biloxi Marsh Lands Corporation (BLMC)?

BLMC released its unaudited financial results for Q1 2021, highlighting delays in reserves studies.

Why did Biloxi Marsh Lands Corporation (BLMC) delay its proved reserves studies?

The delays in the proved reserves studies were attributed to staffing issues related to COVID-19.

When does Biloxi Marsh Lands Corporation (BLMC) expect to complete its reserves studies?

BLMC expects to complete its reserves studies by mid-2021.