EP3OIL, Inc. Begins Development of Oil Production of the Windy Pointe Oil Reserve in Central Texas

Rhea-AI Summary

Holiday Island Holdings, Inc. (HIHI) partners with Royal Family Oil Investment, LLC. to develop Windy Pointe Oil Field in Central Texas. EP3OIL, soon to be the new name, secures funding for the project and will receive 20% of net revenue. The joint venture aims to offer turnkey opportunities in the oil business, garnering investor confidence and support.

PLANT CITY, Fla., March 07, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. - soon to be EP3OIL, Inc. -(OTC: HIHI) has funded a $500,000 development of Windy Pointe Oil Field.

Though a joint venture with the Royal Family Oil Investment, LLC., EP3OIL has acquired the rights and will begin drilling on a 40-acre oil field located in Central Texas.

The Royal Family Oil Investment has agreed to provide the remaining funds necessary over the next 60 days.

EP3OIL will receive 20% of the net revenue from oil production for the management and overseeing of this project.

Glenn Klinker is quoted: “EP3OIL is excited to offer joint ventures as a way to partner with high net worth families, or individuals interested in getting into a turn key opportunity in the oil business.“

The Royal Family Oil and Gas, LLC General Partner, Mr. Jose “Perry” Taveras, said: “ We are very excited to be working with a great partner in EP3OIL, and we are looking forward to a long and mutually beneficial relationship.”

Mr Alverico Asencio, VP of EP3OIL is quoted: "The confidence that investors have been showing in EP3 has been overwhelming, and we are excited to be working with such qualified people.”

The Company will keep both its shareholders and public completely informed of the entire process as the details continue to develop. Please watch for press releases about the Company’s progress. For additional information, please visit the Company’s website at www.EP3OIL.COM.

Forward-Looking Statements Disclaimer:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.

Contact:

Glenn Klinker - CEO & Chairman
Phone: 702-480-3215
Email: Gklinker@EP3OIL.com
Website: www.EP3Oil.com

 

FAQ

What is the name of the company mentioned in the press release?

Holiday Island Holdings, Inc., soon to be EP3OIL, Inc.

What is the ticker symbol for the company mentioned in the PR?

HIHI

What is the project being funded by Holiday Island Holdings, Inc.?

The development of Windy Pointe Oil Field in Central Texas.

Who is the partner that Holiday Island Holdings, Inc. is collaborating with?

Royal Family Oil Investment, LLC.

What percentage of net revenue will EP3OIL receive from oil production?

20%