Southern ITS International, Inc. Subsidiary, Pure Oil & Gas, Inc., Reports on Oil Production Numbers and Announces a New 4-Well Drilling Project in Texas
- Successful commencement of oil sales in Texas
- Secured funding for a new four-well drilling project
- Collaboration with ICS Energy, LLC to optimize operations and strengthen position in the energy sector
- None.
Palm Desert, California, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Southern ITS International, Inc. (Pink Open Market: SITS) proudly announces a significant achievement for its subsidiary, Pure Oil & Gas, Inc., as it began sales of oil produced by one of its wells in Texas. Production in October yielded three loads of oil—510 barrels—which has been collected and sold to BML Inc.
This success sets the stage for Pure Oil & Gas, Inc.’s next venture – a four-well drilling project in Texas.
The first new well is scheduled to begin drilling in the first week of December 2023, with production anticipated to commence within four weeks of the start of drilling operations. Funding for this new project has been secured.
Jeremy Larsen, President of Pure Oil & Gas, Inc. stated, “We are thrilled to announce our successful entry into the Texas oil reserves and look forward to the promising opportunities that lie ahead with our upcoming four-well drilling project. Our strategic location in Texas provides us with a valuable resource base, and we are confident that our collaboration with ICS Energy will contribute to the efficiency and success of our drilling operations.”
Pure Oil & Gas, Inc. has partnered with ICS Energy, LLC, an experienced driller-operator with extensive expertise in the regional geological landscape. This collaboration aims to optimize operations and bolster Pure Oil & Gas's position in the energy sector.
About Pure Oil & Gas, Inc.
Pure Oil & Gas, Inc. focuses on leveraged oil and gas acquisitions as a key strategy for growth and establishing a strong position in the industry. Supported by its parent company, Southern ITS International, Inc., Pure Oil & Gas leverages financial flexibility provided by its parent to acquire leases, producing wells, oil services companies, and new oil industry technology.
About Southern ITS International, Inc.
Southern ITS International, Inc., through its subsidiary companies, currently has operations focused on a wide variety of fields, including oil and gas exploration and development, clothing, and e-commerce fulfillment. We intend to expand upon our current base of operational companies and to increase our ownership and/or control of a portfolio of highly successful businesses. As a holding company, Southern ITS International continues to be in the market to acquire a stake in various companies, both public and private, which will complement its current operations. Our mission includes establishing a robust Direct-to-Consumer (DTC) and Business-To-Business (B2B) network, harnessing the potential of e-commerce across an array of diverse sectors, including manufacturing, distribution, and product sales. We have put in place an experienced management team that is continuing to build a diverse portfolio, buying entire companies, or interests therein, involved in technology, oil and gas, manufacturing, real estate, and other sectors, which will then become operating subsidiaries of Southern ITS International.
Precautionary and Forward-Looking Statement
This 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, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may" "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of several factors, and other risks identified in the Company's disclosures or filings with the SEC or OTC Markets, Inc. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.
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