New Asia Holdings Inc (NAHD) Announces Shareholder Update
New Asia Holdings Inc (NAHD) provided a shareholder update highlighting several key developments. The company expects to complete consolidated audited financials by November end and has achieved the required 12.7% public float after being removed from OTCQB in August. Recent acquisitions include 162 miles of Texas pipeline with an existing agreement for 55,000 MCF monthly, and the operation of 181 natural gas wells in Kansas's Hugoton Field, with 32 wells already in production. The company is finalizing negotiations for 2 out of 4 potential acquisitions and advancing its downhole tooling technology, including Plasma pulse and ultra-sonic tools.
New Asia Holdings Inc (NAHD) ha fornito un aggiornamento agli azionisti evidenziando diversi sviluppi chiave. L'azienda prevede di completare i bilanci consolidati auditati entro la fine di novembre e ha raggiunto il requisito del 12,7% di flottazione pubblica dopo essere stata rimossa dall'OTCQB in agosto. Le recenti acquisizioni includono 162 miglia di pipeline in Texas con un accordo esistente per 55.000 MCF mensili e l'operazione di 181 pozzi di gas naturale nel campo Hugoton del Kansas, con 32 pozzi già in produzione. L'azienda sta finalizzando le negoziazioni per 2 su 4 potenziali acquisizioni e sta avanzando la sua tecnologia di attrezzatura da perforazione, inclusi strumenti a impulso plasma e ultra-sonici.
New Asia Holdings Inc (NAHD) proporcionó una actualización a los accionistas destacando varios desarrollos clave. La compañía espera completar los estados financieros auditados consolidados para finales de noviembre y ha alcanzado el requerido 12.7% de flotación pública después de ser eliminada del OTCQB en agosto. Las adquisiciones recientes incluyen 162 millas de tuberías en Texas con un acuerdo existente para 55,000 MCF mensuales, y la operación de 181 pozos de gas natural en el campo Hugoton de Kansas, con 32 pozos ya en producción. La empresa está finalizando negociaciones para 2 de 4 adquisiciones potenciales y avanzando en su tecnología de herramientas de perforación, incluidos herramientas de pulso de plasma y ultrasónicas.
New Asia Holdings Inc (NAHD)는 여러 주요 발전 사항을 강조한 주주 업데이트를 제공했습니다. 회사는 11월 말까지 통합 감사 재무제표를 완료할 것으로 예상하며, 8월에 OTCQB에서 제외된 후 필요한 12.7%의 공모주를 달성했습니다. 최근 인수에는 매월 55,000 MCF에 대한 기존 계약이 있는 텍사스의 162마일 파이프라인과 캔자스 후고톤 지역의 181개 천연가스 우물 운영이 포함되며, 이 중 32개 우물은 이미 생산 중입니다. 회사는 4개의 잠재적 인수 중 2개의 거래를 마무리 짓고 있으며, 플라즈마 펄스 및 초음파 도구를 포함한 다운홀 툴링 기술을 발전시키고 있습니다.
New Asia Holdings Inc (NAHD) a fourni une mise à jour aux actionnaires mettant en lumière plusieurs développements clés. La société s'attend à finaliser ses états financiers audités consolidés d'ici la fin novembre et a atteint le flottement public requis de 12,7 % après avoir été retirée de l'OTCQB en août. Les acquisitions récentes incluent 162 miles de pipeline au Texas avec un accord existant pour 55 000 MCF par mois, ainsi que l'exploitation de 181 puits de gaz naturel dans le champ Hugoton du Kansas, dont 32 sont déjà en production. L'entreprise finalise les négociations pour 2 des 4 acquisitions potentielles et fait progresser sa technologie d'outillage de forage, y compris des outils à impulsion plasma et ultrasoniques.
New Asia Holdings Inc (NAHD) hat ein Update für die Aktionäre bereitgestellt, in dem mehrere wesentliche Entwicklungen hervorgehoben werden. Das Unternehmen erwartet, die konsolidierten, geprüften Finanzunterlagen bis Ende November abzuschließen, und hat die erforderlichen 12,7% Public Float erreicht, nachdem es im August von OTCQB entfernt wurde. Zu den jüngsten Akquisitionen gehören 162 miles Pipeline in Texas mit einer bestehenden Vereinbarung über 55.000 MCF monatlich und der Betrieb von 181 Erdgasbohrlöchern im Hugoton-Feld in Kansas, von denen bereits 32 in Produktion sind. Das Unternehmen schließt derzeit Verhandlungen über 2 von 4 potenziellen Akquisitionen ab und verbessert seine Downhole-Tool-Technologie, einschließlich Plasma-Puls- und Ultraschallwerkzeugen.
- Achieved 12.7% public float, meeting OTC market requirements
- Secured 162-mile Texas pipeline with 55,000 MCF monthly agreement
- Successfully brought 32 out of 181 natural gas wells into production in Kansas
- In final stages of negotiations for 2 additional acquisitions
- Removed from OTCQB in August due to insufficient public float
- Required modifications to downhole tooling to meet Texas industry standards
- Only 32 out of 181 wells currently in production
- 3 wells need abandonment to meet contract requirements
Electra, Oct. 23, 2024 (GLOBE NEWSWIRE) -- New Asia Holdings Inc./Olenox Corp. (NAHD” or the Company) (OTCQB: NAHD), announces a shareholder update.
Corporate Developments
The company continues to work on its consolidated audited financials and expects to be completed and filed by the end of November and is on target to complete and file them by then.
New Asia has also been working in the background with its capital stock to meet the OTC market requirement of a
Olenox is a fully integrated energy company that produces responsible energy products both traditional and renewable. Our continued focus on carbon footprint reduction and streamlined oil and gas production not only benefits the environment and local communities but also add value to Olenox bottom line.
The company continues as well to work towards our green initiative to produce carbon-neutral products as well as integrate solar and other renewable technologies into our daily oil and gas production operations.
Acquisitions
On August 13th, 2024, New Asia announced it had purchased 162 miles of Texas pipeline from Taylor Consulting. The company is currently looking to bring the pipeline back into production and working with the anchor customer to renew takeoff agreements. An existing agreement is in place for 55,000 MCF per month and the company is looking at several other projects that could be attached to the pipeline including power generation and bitcoin mining operations.
On August 8th, 2024, New Asia/Olenox announced that its wholly owned Olenox Kansas has been selected to operate 181 natural gas wells in the Bradshaw portion of the Giant Hugoton Field in Kansas. The company continues to bring on production and is working towards the goal of having half the field in production by Q1 2025. The company to date has brought back 32 wells into production and is now working on abandoning 3 wells to meet the contract requirements for the year.
New Asia/Olenox continues to work on several other acquisitions and is in the final stages of purchase negotiations with 2 of the 4 currently under consideration.
Technology
Olenox continues to develop its technologies and is pushing its downhole tooling forward. Modifications were needed for both the Plasma pulse tool and the ultra-sonic tool to meet industry standards in Texas and the company will begin to use the technology in our field in the coming months.
About Olenox Corp.
Olenox Corp.is a diversified energy company based in the state of Texas that currently operates three vertically integrated business units – Oil and Gas, Energy Services and Energy Technologies.
- Oil and Gas: focuses on acquiring and optimizing underdeveloped oil and gas assets in Texas, Kansas and Oklahoma. It employs both internally developed and third party-licensed technologies to increase production, optimize performance and reduce costs. Olenox currently operates several oil and gas properties in Texas and Kansas.
- Energy Services: This business unit supports Olenox’s overall exploration and production efforts with “well services” and “end of life reclamation.” Olenox Energy Services owns and operates a combination of customized service-wireline rigs and HydroVac units. This specialized equipment allows for faster “rig in” and “rig out” times. Overall, Olenox Energy Services’ equipment and experience combination seeks to reduce the amount of time and fuel burned to complete an abandonment or workover thus reducing costs.
- Energy Technologies: This business provides both R&D and existing technology to enable increased production in the field. Olenox flagship intellectual property is its downhole enhanced recovery plasma pulse tooling and ultrasonic cleaning tools.
Each of Olenox’s three vertically integrated business units operate in tandem to help Olenox capture unique opportunities that often go untapped by the Company's competitors.
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
FAQ
When will NAHD complete its consolidated audited financials?
How many miles of Texas pipeline did NAHD acquire in August 2024?
What is the current public float percentage for NAHD stock?
How many natural gas wells has NAHD brought back into production in Kansas?
