Sino American Oil Corp (OTC PINK: OILY) has signed an acquisition agreement to obtain 100% interest in Tritium Inc, an oil services technology company based in Alberta, Canada. This acquisition enhances SINO's operations in the oil sector, particularly by gaining Tritium's patented Oil Upgrading Technology, which converts heavy Western Canadian Select oil to WTI pricing. The technology is currently operational at a facility in Alberta, which SINO partially owns. The deal is contingent upon the delivery of audited financial statements from Tritium and compliance with regulatory requirements.
Sino American Oil Company (OTC PINK: OILY) has partnered with SRAX (NASDAQ: SRAX) to enhance its investor outreach and growth strategies. The collaboration aims to leverage SRAX's expertise in digital marketing and consumer data management to better understand investor demographics, allowing Sino American to tailor its marketing efforts effectively. CEO Kim Halvorson expressed optimism about this strategic partnership, highlighting the potential for improved investor engagement and value creation for shareholders.
On November 16, 2021, Sino American Oil Company (OTC PINK: OILY) announced a Memorandum of Understanding with Estacado Energy, LLC for the acquisition of a majority working interest in the Piave Oil Field, located in Throckmorton County, Texas. The total purchase price is $600,000, structured with various payment milestones. Geological reports reveal proven reserves of approximately 774,498 barrels of oil, translating to a valuation of around $36.67 million. This collaboration aims to enhance oil production and leverage Estacado's operational expertise in the Texas market.
Sino American Oil Company (OTC PINK: OILY) announced the engagement of International Monetary as its investment banking and strategic advisory partner.
This collaboration aims to enhance capital resources, structured financing, and investor relations while guiding potential mergers and acquisitions. CEO Kim Halvorson highlighted IM's experience with small-cap companies, indicating that this partnership will boost shareholder value and liquidity. The company focuses on developing sweet light crude oil from the Western Canadian Sedimentary Basin, primarily in Alberta.