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Metawells Oil & Gas Inc. (KOSK), formerly known as One Step Vending Corp., is a holding company based in Harrison, NY. The company has shifted its focus to the oil and gas sector, particularly in the energy and technology segments. Metawells has recently signed a Letter of Intent with Global Oil & Gas Recovery Corp., aiming to revitalize abandoned wells and enhance oil recovery techniques using innovative Green Technology called PENG. By capturing leaking Methane gas and converting it into usable fuel, Metawells is set to generate revenue from previously untapped reserves and contribute to reducing emissions in the United States.
Metawells Oil and Gas Inc. (OTC PINK:KOSK) and South Plains Petroleum have announced a merger agreement with unanimous board approval. The deal involves a 1.5:1 share exchange ratio and includes plans to uplist to NASDAQ with a minimum $4.00 share price requirement.
South Plains brings significant assets including:
- Eastern Permian Basin properties with 2.25-2.5 million barrels of recoverable oil (PV10: $27 million)
- Welch lease with 800,000 estimated recoverable barrels (PV10: $20 million)
- Southern Abilene field with 400,000 recoverable barrels (PV10: $10 million)
- Louisiana properties with 18+ BCF of natural gas and 1.8 million barrels of oil (PV10: $35+ million)
Metawells Oil & Gas Inc. (KOSK) announces updates following a recent Letter of Intent with Global Oil and Gas Recovery Corp, expecting an executed agreement soon. The partnership aims to enhance oil recovery techniques using the Green Technology called PENG to revive abandoned wells in the United States. This collaboration tackles environmental issues by converting leaking Methane gas into usable fuel, ultimately benefiting both companies and the environment.
One Step Vending Corp. (KOSK) announced the execution of its second vertical farm order following its acquisition of 51% in Light Leaf Farms (LLF). This strategic move is expected to enhance revenues for 2022 as LLF manages daily operations of the jointly-owned vertical farms. The new warehouse farm, set to operate by July 2022, is forecasted to generate approximately $522,068 annually, nearly double the output of the previous modular farm. Revenue from co-owned farms will be shared equally between KOSK and LLF, potentially reaching $783,101 yearly.
One Step Vending Corp. (OTC: KOSK) is set to generate revenue in summer 2022 after acquiring a 51% stake in E-Roots Systems, which manufactures vertical farms. The company will market and distribute produce from these farms, partnering with ZA Group, Inc. (OTC: ZAAG). Each vertical farm is projected to yield approximately $413,948.94 annually with a profit margin of about 98.57%. The president, Ronal Minsky, noted significant progress since the acquisition, including a purchase order for one vertical farm and expectations for more orders.
One Step Vending Corp. (OTC: KOSK) announced a strategic partnership with ZA Group, Inc. (ZAAG) and GME Innotainment, Inc. (GMEV) on March 21, 2022. This collaboration aims to enhance operations in the $113.7 billion agriculture sector. The company acquired 51% of E-Roots Systems (Abbotsford), Ltd. and plans to market and distribute produce from this vertically integrated farm. Additionally, KOSK is seeking to purchase its own farm and is in talks with a USDA expert to support growth.
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