XFUELS INC - XFLS STOCK NEWS

Xfuels Inc. (OTC PINK: XFLS) reports significant operational updates from its subsidiary Cycle Oil & Gas. After acquiring 17 leases in Wichita County, production rose from 4 bpd to 8 bpd on the Burnett lease due to critical infrastructure repairs. Overall production increased from 231 bbls/month in July to 345 bbls/month in November. As of December 1, Cycle averages 12.5 bpd from 15 active wells, with plans to enhance production further through workovers in December. The company benefits from cost savings by using its own injection wells for water disposal, improving profit margins.

Xfuels Inc. (OTC PINK: XFLS) has announced that its subsidiary, Cycle Oil & Gas Inc., has hired David Felton, an experienced Independent Geologist, to develop a drilling program on the 174-acre Hodges lease in Wichita County, Texas. This lease, acquired in October 2022, sits atop mature reservoirs with a history of production since the 1930s. Cycle Oil & Gas operates eight leases and is working to bring back online over 125 existing wells. The company is optimistic about recent drilling activity by nearby operators, enhancing its strategic outlook.

Xfuels Inc. (OTC Pink: XFLS) announced significant corporate developments in its Q3 update. Cycle Oil & Gas has completed two acquisitions, increasing operational assets, and successfully transferred 10 of 18 leases from Triple S Gas and Ray Loveless Enterprises. The company reports enhanced production from workovers, averaging 10BPD since August 1st. Xfuels is also up to date with its financial filings and plans to complete its audit by mid-November. The company continues to develop its technologies, focusing on hydrogen and GTL systems, while integrating newly acquired Texas assets.

Xfuels Inc. (OTC Pink: XFLS) recently announced that Cycle Oil & Gas has acquired Ray Loveless Enterprises LLC and R.L. Gathering LLC for a total of $575,000. This all-cash deal includes 10 leases, 106 wells, and related equipment in Texas. Cycle plans to develop a workover program to bring nearly 80 shut-in wells back online, aiming to cut fuel costs and operational expenses. The acquired properties have previously produced approximately 25,000 barrels of oil, and the company believes significantly more recoverable oil is available.

Xfuels Inc. (OTC: XFLS) announced the acquisition of Triple S gas in Dallas, Texas, for $320,000 in cash, plus a capped royalty interest. The deal includes 7 leases, 54 wells, and 6 oil batteries, marking a significant step into Texas' oil and gas production. CEO Michael McLaren stated this acquisition is a cornerstone for future growth, with potential negotiations for synergistic properties underway. Triple S gas has produced around 40,000 barrels, and Xfuels aims to capitalize on recoverable oil in the area. Current production stands at approximately 110 barrels per day.

Xfuels Inc. (OTC Pink: XFLS) announced the execution of a letter of intent (LOI) to acquire Triple S Gas for $320,000 in an all-cash deal. The acquisition includes 7 leases, 54 wells, and 6 oil batteries located in Wichita and Wilbarger counties, Texas. The company aims to leverage its expertise to maximize production from these assets, which have already produced approximately 40,000 barrels of oil. Xfuels believes additional recoverable oil exists in deeper reserves, which will be verified through third-party assessment.

Xfuels (OTC Pink: XFLS) has announced its relocation from Alberta, Canada to Texas, aimed at facilitating expansion within the U.S. market. The company also clarified that any new Letter of Intent (LOI) for acquiring Jubilee Exploration will be established under new terms. Xfuels operates three integrated subsidiaries: Cycle Oil and Gas, producing approximately 110 barrels of oil per day; Cycle Energy Services, offering well services; and Cycle Energy Technologies, focused on R&D and deploying advanced technologies for oil production.

Xfuels Inc. (OTC Pink: XFLS) announced the termination of its Letter of Intent (LOI) to acquire Jubilee Exploration, LLC due to unverified property title records for wells in Oklahoma and Kansas. This decision, made on March 22, 2022, is seen as beneficial for shareholders according to CEO Mike McLaren. The initial LOI aimed to facilitate Xfuels' entry into the U.S. market. Xfuels will redirect its efforts towards other acquisitions and may reconsider Jubilee if the title issues are resolved.

Xfuels Inc. (OTC Pink: XFLS) completed an external audit of its 2019 and 2020 financial statements by Borgers CPA PC, an audited firm registered with PCAOB. This audit allows Xfuels to have its shares freely traded in Canada and to qualify as a fully reporting issuer with the SEC in the U.S. The company anticipates a listing on OTC Markets Group’s OTCQB Venture Market, improving its access to capital for growth. CEO Mike McLaren stated this marks a significant moment for the company, following over two years of data collection to meet audit requirements.