Verde Bio Holdings Announces New Drilling Occurring on Its Properties

Rhea-AI Summary

Verde Bio Holdings, Inc. (OTCQB: VBHI) has announced significant developments with 15 new wells being brought online and 13 new permits filed, capitalizing on the high prices of oil and gas. CEO Scott Cox highlighted that crude oil prices are consistently above $100 and natural gas above $8, promising increased revenues for the company without further investment. Additionally, Verde has made a notable acquisition in the Haynesville Shale, generating over $70,000 monthly revenue. The company is also working on asset valuations and preparing to release its upcoming 10-K report.

Positive

• 15 new wells being brought online, indicating increased production capacity.
• 13 new permits filed, suggesting further exploration and development.
• High crude oil prices above $100 and gas prices over $8 likely to boost revenues.
• Significant acquisition in Haynesville Shale expected to generate over $70,000 in monthly revenue.
• No additional investment required for new wells, offering potential profit without financial strain.

Negative

• None.

15 New Wells Being Brought Online and 13 New Permits Filed

FRISCO, TX, May 25, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Verde Bio Holdings, Inc. (OTCQB: VBHI), today announced that with the sustained high price of oil and gas, its well count has continued to rise. Recently, the company has received notice of over 15 new wells being brought online and 13 new permits have been filed on its oil and gas properties.  A well being brought online indicates a new producing well and a permit indicates an intention to drill.

“The experienced operators filing the permits are SEM, Ovintiv and EOG as well as others,” said Scott Cox, Verde Bio Founder and CEO.  “With crude oil consistently trading above $100 and gas over $8, new oil and gas wells on our properties equates to more revenues for VBHI and its investors.  These potential additional revenues do not require any additional investment by VBHI, or the mineral and royalty owner.  We were very diligent in buying properties based on lower oil and gas prices, thus the Company and its investors stand to reap the benefits of the rise in commodity pricing.”

“Shareholders should know that Verde Bio continues to evaluate other potential strategic acquisitions to expand our portfolio,” Mr. Cox said.  “We were very pleased to recently announce a new massive natural gas royalty acquisition in the Haynesville Shale of Northern Louisiana which produces more than $70,000 per month in revenue to the interest being acquired.”

On a Corporate note, the Company is steadily working through the reserve report valuation of its assets and the accounting of the Company and looks forward to releasing its upcoming 10-K.

About Verde Bio Holdings, Inc. 

Verde Bio Holdings, Inc. (OTC: VBHI) is an Energy Company based in Frisco, Texas, engaged in the acquisition and management of Mineral and Royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests. www.verdebh.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Statements in this press release that are not strictly historical are “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. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete software development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2021 Annual Report on Form 10-K and quarterly reports on Form 10-Q.

Contact:
Kirin Smith, President
PCG Advisory, Inc.
646.823.8656
ksmith@pcgadvisory.com

FAQ

What recent developments has Verde Bio Holdings (VBHI) announced?

Verde Bio Holdings announced 15 new wells online and 13 new permits filed for oil and gas properties.

How will the high prices of oil and gas affect VBHI?

The high prices, with crude oil above $100 and gas over $8, are expected to significantly increase revenues for VBHI.

What is the revenue impact of the new acquisition by VBHI?

The recent acquisition in the Haynesville Shale is projected to generate over $70,000 per month in revenue.

Does Verde Bio Holdings require additional investment for new wells?

No, the new wells being brought online do not require additional investment by VBHI.

What financial report is VBHI preparing to release?

Verde Bio Holdings is working on the reserve report valuation of its assets and preparing to release its upcoming 10-K.