Holiday Island Holdings, Inc. Secures a Letter of Intent to Enter Into a Joint Venture With a Highly Experienced International Oil Company to Drill for Oil in Texas

Rhea-AI Summary

Holiday Island Holdings, Inc., dba EP3OIL, has accepted a Letter of Intent for a Joint Venture with Supeca Oil, receiving $2.5 million to develop the Drummond Oil Field in West Texas. Projections indicate a significant increase in oil production revenue. EP3OIL's CEO is pleased with investor confidence, and the company's VP for Latin America looks forward to future collaborations with Supeca Oil.

PLANT CITY, Fla., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc., dba EP3OIL, (OTC: HIHI) – operating in the Secondary Recovery of Oil & Gas Industry – has accepted a Letter of Intent to enter into a Joint Venture wherein it will receive $2.5 million from a highly experienced international oil company - Supeca Oil -  to develop the Drummond Oil Field located in West Texas.

Projections on this field, as reported by Benchmark Petroleum Partners, indicated a significant increase in gross revenue of oil production over its life.

Glenn Klinker, CEO and Chairman of EP3OIL, says: “I am so happy with the confidence investors have instilled in EP3OIL and our ability to produce highly rewarding oil production.”

Our recently appointed Vice President and Marketing Director for Latin America, Mr. Alverico Asencio, says: “EP3OIL is very excited to be working with such a knowledgeable and experienced company.”

Mr. Asencio and his team are looking forward to this JV, which is expected to be the first of many with Supeca Oil.

EP3OIL and Supeca Oil will perform due diligence over the next 30 days to solidify their Joint Venture.

Holiday Island Holdings, Inc. is committed to keeping both shareholders and the public informed on all of our opportunities and developments.  Please visit www.EP3OIL.com for more information.

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.

HIHI 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., also known as EP3OIL.

What industry does EP3OIL operate in?

EP3OIL operates in the Secondary Recovery of Oil & Gas Industry.

What is the ticker symbol for Holiday Island Holdings, Inc.?

The ticker symbol is HIHI.

How much funding will EP3OIL receive from Supeca Oil for the Joint Venture?

EP3OIL will receive $2.5 million from Supeca Oil.

Where is the Drummond Oil Field located?

The Drummond Oil Field is located in West Texas.

Who is the CEO of EP3OIL?

Glenn Klinker is the CEO and Chairman of EP3OIL.