Verde Bio Holdings (OTCQB: VBHI) New Drilling Occurring on its Properties

Rhea-AI Summary

Verde Bio Holdings, Inc. (OTCQB: VBHI) reports the filing of ten new drilling permits in the Permian Basin, signaling potential revenue growth as crude oil prices exceed $100. The permits are filed by experienced operators SEM, Ovintiv, and EOG, and are expected to generate additional revenue without further investment from VBHI. The company remains proactive in exploring strategic acquisitions, including alternative energy projects, and has also announced a recent oil royalty acquisition in the Bakken Shale.

Positive

• Ten new drilling permits filed in the Permian Basin indicating potential for increased revenue.
• Experienced operators SEM, Ovintiv, and EOG are involved in the new permits.
• Crude oil prices consistently above $100 enhance revenue prospects.
• The company is not required to make additional investments for the new drilling operations.
• Recent oil royalty acquisition in the Bakken Shale expands the company's portfolio.

Negative

• None.

FRISCO, TX , March 31, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire --Verde Bio Holdings, Inc. (OTCQB: VBHI) (www.verdebh.com) today said ten new permits have been filed on its oil properties in the prolific Permian Basin.   A permit indicates an intention to drill.

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

“Shareholders should know Verde Bio continues to evaluate other potential, strategic, acquisitions to expand the portfolio, including alternative energy projects,” Mr. Cox said.  “We were very pleased to recently announce a new oil royalty acquisition in the Bakken Shale.” 

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.

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:
Paul Knopick, E & E Communications
pknopick@eandecommunications.com 
949.697.1323

FAQ

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

Verde Bio Holdings announced the filing of ten new drilling permits in the Permian Basin, expected to increase future revenues.

Who are the operators filing new permits for VBHI?

The operators filing permits for Verde Bio Holdings are SEM, Ovintiv, and EOG.

How does the current crude oil price impact VBHI?

With crude oil prices above $100, Verde Bio Holdings anticipates enhanced revenue from its properties.

Has VBHI made any recent acquisitions?

Yes, VBHI has recently announced an oil royalty acquisition in the Bakken Shale.

Does the new drilling permit initiative require additional investments from VBHI?

No, the new drilling permits do not require additional investments from Verde Bio Holdings.