SPZI: JP3E Enters $330,000,000 Commitment with Öztürk Holding, LLC and Kerogen Resources, LLC via Kerogen Resources II, LLC to Develop Unconventional Shale Assets
JP3E Holdings (OTC: SPZI) has executed a binding MOU with Kerogen Resources to form Kerogen Resources II, , a subsidiary majority-owned by JP3E. The agreement includes a $330 million cash commitment through a joint venture with Öztürk Holding for Smart Park Development in Clearfield, Pennsylvania. JP3E will receive 50% of sales proceeds upon commencement of drilling, producing, and manufacturing operations. The transaction will be facilitated through JP3E's new trade finance solutions platform developed with Bloxcross, utilizing blockchain technology for efficient global transactions.
JP3E Holdings (OTC: SPZI) ha firmato un MOU vincolante con Kerogen Resources per formare Kerogen Resources II, una sussidiaria controllata maggiormente da JP3E. L'accordo include un impegno di cassa di $330 milioni attraverso una joint venture con Öztürk Holding per lo sviluppo di Smart Park a Clearfield, Pennsylvania. JP3E riceverà il 50% dei proventi delle vendite all'inizio delle operazioni di trivellazione, produzione e manifattura. La transazione sarà facilitata attraverso la nuova piattaforma di soluzioni di trade finance di JP3E, sviluppata con Bloxcross, utilizzando la tecnologia blockchain per transazioni globali efficienti.
JP3E Holdings (OTC: SPZI) ha ejecutado un MOU vinculante con Kerogen Resources para formar Kerogen Resources II, una subsidiaria mayoritariamente propiedad de JP3E. El acuerdo incluye un compromiso de efectivo de $330 millones a través de una empresa conjunta con Öztürk Holding para el desarrollo de Smart Park en Clearfield, Pennsylvania. JP3E recibirá el 50% de los ingresos por ventas al inicio de las operaciones de perforación, producción y fabricación. La transacción se facilitará a través de la nueva plataforma de soluciones de financiamiento comercial de JP3E, desarrollada con Bloxcross, utilizando tecnología blockchain para transacciones globales eficientes.
JP3E Holdings (OTC: SPZI)는 Kerogen Resources와 함께 Kerogen Resources II를 설립하기 위한 구속력 있는 MOU를 체결했습니다. 이 자회사는 JP3E가 대부분 소유합니다. 협약에는 펜실베니아 주 클리어필드에서 스마트 파크 개발을 위해 Öztürk Holding과의 합작 투자로 $330 million의 현금 약속이 포함됩니다. JP3E는 시추, 생산 및 제조 작업이 시작되는 즉시 판매 수익의 50%를 받게 됩니다. 이 거래는 블록크로스와 함께 개발된 JP3E의 새로운 무역 금융 솔루션 플랫폼을 통해 효율적인 글로벌 거래를 위해 블록체인 기술을 활용하여 이루어질 것입니다.
JP3E Holdings (OTC: SPZI) a signé un MOU contraignant avec Kerogen Resources pour former Kerogen Resources II, une filiale majoritairement détenue par JP3E. L'accord comprend un engagement de trésorerie de $330 millions via une coentreprise avec Öztürk Holding pour le développement de Smart Park à Clearfield, en Pennsylvanie. JP3E recevra 50 % des revenus des ventes dès le début des opérations de forage, de production et de fabrication. La transaction sera facilitée par la nouvelle plateforme de solutions de financement commercial de JP3E, développée avec Bloxcross, utilisant la technologie blockchain pour des transactions mondiales efficaces.
JP3E Holdings (OTC: SPZI) hat eine verbindliche MOU mit Kerogen Resources unterzeichnet, um Kerogen Resources II zu gründen, eine mehrheitlich im Besitz von JP3E befindliche Tochtergesellschaft. Die Vereinbarung umfasst ein Bargeldengagement von $330 Millionen durch ein Joint Venture mit Öztürk Holding für die Entwicklung von Smart Park in Clearfield, Pennsylvania. JP3E erhält 50% der Verkaufserlöse bei Beginn der Bohr-, Produktions- und Fertigungsaktivitäten. Die Transaktion wird über die neue Handelsfinanzierungsplattform von JP3E erleichtert, die mit Bloxcross entwickelt wurde und die Blockchain-Technologie für effiziente globale Transaktionen nutzt.
- $330 million cash commitment secured for development project
- 50% revenue share agreement from future operations
- Majority ownership in new subsidiary Kerogen Resources II
- Partnership with established contractor Öztürk Holding
- No immediate revenue generation - dependent on future operations
- Significant execution risk in development project
NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (“JP3E”) formerly known as Spooz, Inc. (OTC: SPZI), provides an update on the execution of a legally binding Memorandum of Understanding (“MOU") with Kerogen Resources, LLC to form Kerogen Resources II, LLC as a subsidiary, majority owned by JP3E, for the purpose of developing unconventional onshore U.S. shale assets. A
Öztürk Holding, LLC ranks 18th among the world’s biggest 250 contractors. Öztürk Holding, founded in 1989, stands out in many sectors, especially the construction sector, with its commitment to quality standards in the services it offers, the importance it attaches to customer satisfaction and constantly developing technology. They operate in the fields of Energy, Petroleum, Mining, Finance and Defense Industry. It continues to grow with its companies and partnerships in 56 countries with over 1100 sectoral and mega projects. https://www.xn--zh-eka.com/
Kerogen Resources, LLC, is a private exploration and production company, bringing to the partnership extensive experience and knowledge for the development of conventional and unconventional oil and natural gas assets. https://kerogenresources.com/
The transaction and dissemination of funds will occur through our new trade finance solutions, developed in partnership with Bloxcross. This uniquely efficacious block chain, proprietary platform enables faster, more efficient, and secure global transactions, offering transparency and precision in trade finance, and positions JP3E as a leader in the commodities market.
Mark Thompson, CEO/Chairman of Kerogen Resources, LLC, commented, "This partnership with JP3E is finally upon us to a level of completion that will greatly bring benefits to both companies. We will leverage JP3E's resources and network to further expand the growth and operational footprint to inject significant value for our shareholders."
John K. Park, Chairman and President of JP3E, stated, "Our partnership with Kerogen Resources highlights our commitment to diversify and strengthen our portfolio in the energy sector. We are excited about the synergies this partnership brings."
Diego Baez, CEO of JP3E and Bloxcross, stated, “I am honored that our uniquely suitable trade finance solution facility will be employed to process these extremely profitable transactions for the benefit of all parties.”
To receive information on JP3E, sign up for email news alerts at https://www.jp3e.com/subscription.
For additional information on the Global Trade Financing Platform via Bloxcross, Inc., reach out to sgallegos@bloxcross.com.
About JP 3E Holdings, Inc.:
JP3E is a global leader in commodity trading, known for its innovative approach to optimizing trade processes and solutions across numerous sectors. With a commitment to sustainability and market leadership, JP3E continues to drive new trends and solutions in global commodity markets.
About Bloxcross, Inc.:
Bloxcross is at the forefront of financial technology, specializing in blockchain-based solutions for cross-border payments and trade finance. Dedicated to streamlining global financial transactions, Bloxcross provides secure, fast, and cost-effective services to clients worldwide. To learn more about their groundbreaking solutions, visit https://www.blox.global/
About Kerogen Resources, LLC:
Kerogen Resources is a private exploration and production company with offices in Clearfield County, Pennsylvania. Our team has decades of industry-leading experience and is dedicated to creating value that makes a difference. Kerogen Resources has fostered a culture of a dedicated and technically advanced team of professionals who are hard-working and committed to excellence. Today, several of the company’s members are owners of mature-producing properties and a FERC pipeline system in Central Pennsylvania. Our goal is to return value to our partners through cost-efficient operations utilizing best-in-class environmental and safety procedures. Our strategy is to identify high-quality mature producing assets and employ operational improvements and effective techniques around enhanced recovery programs. Identification and evaluation of acquisition candidates are ongoing activities.
About Öztürk Holding, LLC
Öztürk Holding, whose foundations were laid in 1989 and gained its corporate identity in 1995, is one of the world's leading companies operating in 6 important sectors and achieving great success since the day it was founded. Our commitment to quality standards in the services we offer in Turkey and the world. We stand out in providing the best service in the sectors we operate with quality workmanship, reliability and environmentally friendly practices and in providing the best service to our customers with constantly developing technology.
Company Contact:
John K. Park, Chairman
john.park@jp3eholdings.com
732-241-0598 Office
Websites: https://www.jp3e.com/
https://www.jp3eholdings.com/
Twitter: http://www.twitter.com/SpoozInc
Facebook: http://www.Facebook.com/SpoozInc
E-Mail: info@jp3e.com
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). The Companies caution that statements, and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, and estimates made by management. Actual results could differ materially from current projections or implied results. The Companies undertake no obligation to revise these statements following the date of this news release.
FAQ
What is the value of JP3E's (SPZI) deal with Öztürk Holding and Kerogen Resources?
What percentage of sales will JP3E (SPZI) receive from the Kerogen Resources II operations?
Where will JP3E (SPZI) and Kerogen Resources develop their shale assets?
How will JP3E (SPZI) process transactions for this venture?
