Holiday Island Holdings, Inc. Has Finalized Funding for Its Windy Point Oil Extraction Development
Holiday Island Holdings (OTC: HIHI), soon to be EP3Oil, has secured $525,000 in funding for its Windy Point oil extraction project in central Texas. The project, a joint venture with Cavalier Oil, has shown promising test results and could start production within two months. Windy Point has the potential for up to ten wells, with future expansion contingent on the first well's performance. However, setbacks in a previous joint venture on the Metcalf development, including pending regulatory approvals, have delayed revenue expectations. CEO Glenn Klinker anticipates healthy revenue once both projects are operational. Further updates will be provided via press releases.
- Secured $525,000 in funding for Windy Point development.
- Promising test results for Windy Point project.
- Potential for up to ten wells in Windy Point.
- Production could start within two months.
- Strategic partnership with Cavalier Oil.
- CEO anticipates healthy revenue from Windy Point and Metcalf projects.
- Setbacks in the Metcalf development project.
- Pending regulatory approvals for Metcalf, delaying revenue expectations.
- Uncertainty about the performance of the first well in Windy Point.
PLANT CITY, Fla., June 17, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC: HIHI), (soon to be EP3Oil, Inc.), has finalized a
This rich project is a joint venture with Cavalier Oil in central Texas. It has been drilled, and the test results are promising. The development could start production in as few as two months.
Windy Point offers as many as ten wells in an aggressive expansion program. Depending on the performance of the first well, the company will have the opportunity to drill multiple vertical or horizontal wells.
Set backs on the first joint venture with Cavalier on the Metcalf development, funded earlier in 2024, has delayed some revenue expectations. The permitting of some of the pertinent aspects of this Metcalf project are pending regulatory approval.
Glenn Klinker is quoted: “With the funding of Windy Point and Metcalf projects eventually coming on line, we are expecting some healthy revenue.”
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: GLENN@EP3OIL.com
Website: www.EP3OILcom
FAQ
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