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New Asia Holdings Inc./Olenox Corp. (OTCQB: NAHD) has acquired 162 miles of Texas pipeline from Taylor Consulting (OTC:TAYO) for $1,600,000, paid in 10,000,000 shares of NAHD common stock. The pipeline is designated as a public utility with associated feeder wells and a large consumer customer attached. This acquisition marks NAHD's entry into the midstream market, providing a cash-flowing asset.
CEO Michael McLaren stated that the company plans to re-establish take-off agreements and upgrade the pipeline in the coming months. NAHD will also implement its in-house monitoring technologies to increase field efficiencies, reduce costs, and enhance environmental protection during pipeline operations.
New Asia Holdings Inc./Olenox Corp. (OTCQB: NAHD) announces its subsidiary, Olenox Kansas, has been selected to operate 181 natural gas wells in the Bradshaw portion of the Giant Hugoton Field. The operations will cover 61,945 acres across Greeley and Hamilton Counties in Kansas. Olenox CEO Michael McLaren states they have completed agreements with the Kansas Commission and begun field operations. The company plans to introduce modern pumping and monitoring technologies to increase efficiencies, reduce costs, and enhance environmental protection.
Olenox Corp. is a diversified energy company with three business units: Oil and Gas, Energy Services, and Energy Technologies. The Oil and Gas division focuses on acquiring and optimizing underdeveloped assets in Texas, Kansas, and Oklahoma. Energy Services supports exploration and production efforts, while Energy Technologies provides R&D and existing technology to increase field production.
New Asia Holdings Inc (NAHD) has announced the closing of a Share Exchange Agreement with Olenox Corp. and Marble Trital Inc. Through this agreement, NAHD has acquired all issued and outstanding shares of Olenox Corp. in exchange for issuing approximately 224 million shares of NAHD common stock to Marble Trital Inc., the sole shareholder of Olenox. As a result of this transaction, Olenox has become a wholly owned subsidiary of NAHD. This acquisition marks a significant development for NAHD, as it has now acquired an operating business and assets, potentially impacting its market position and future operations.
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