ZEST - ZEST STOCK NEWS

BitNile Holdings and White River Energy have successfully drilled the O’Neal No. 1 Well in Mississippi, a significant milestone in their partnership to drill approximately 100 oil wells over the next five years. The well, measuring 9,531 feet, yielded productive oil results and is undergoing completion for expected mid-October pumping. BitNile holds a 40% working interest in the O’Neal No. 1 Well, having invested $12 million in Ecoark Holdings, which owns the majority of White River. The companies plan further drilling projects in Louisiana and Mississippi.

BitNile Holdings (NYSE American: NILE) and White River Energy Corp (OTC: FRTM) have successfully drilled the O’Neal No. 1 Well in Holmes County, Mississippi, reaching 9,531 feet. This well, part of their partnership, shows productive oil results across multiple pay zones in the Smackover formation. The completion is expected in mid-October 2022. BitNile invested $12 million in Ecoark Holdings, acquiring a 40% stake in the well. Over the next five years, they plan to drill approximately 100 oil wells together.

BitNile Holdings (AMEX: NILE) and White River Energy Corp (OTC: FRTM) have announced the successful drilling of the O’Neal No. 1 Well in Holmes County, Mississippi, reaching 9,531 feet. This well displayed productive oil results across several pay-zones. The well's completion process has started, with expectations to pump it by mid-October 2022. This marks the first project of a partnership aiming to drill approximately 100 oil wells over five years, following BitNile's $12 million investment in Ecoark Holdings (NASDAQ: ZEST), which owns 83% of White River.

Ecoark Holdings (NASDAQ: ZEST) announced that stockholders of record as of September 30, 2022, will receive shares from the spin-off of White River Energy Corp and Enviro Technologies US Inc. Stockholders will get one share for each share of Ecoark owned. Ecoark plans to convert $30M of preferred stock into over 42 million shares of White River and increase shares in Enviro to nearly 52 million through a forward stock split. A Form 10 will be filed to spin-off Zest Labs, with a projected record date of November 15, 2022, for the Zest stock dividend.

Ecoark Holdings has terminated its Securities Exchange Agreement with HUMBL, initially set for Agora Digital Holdings to acquire Ecoark’s 89% owned subsidiary. The agreement, valued at $60 million in preferred stock, fell apart due to failure to finalize key terms. Agora Digital will shift its strategy from Bitcoin mining to becoming a power-centric hosting company for digital asset mining. This follows its cessation of mining operations in March 2022 amidst a declining Bitcoin market.

Ecoark Holdings, Inc. (NASDAQ: ZEST) has announced that its majority-owned indirect subsidiary, Enviro Technologies U.S., Inc., will be rebranded as Wolf Energy Services. This name change, effective September 7, 2022, is part of a strategy to develop a more diversified oilfield services company following a recent reverse merger. The company aims for an uplisting to OTCQB or OTCQX, leveraging its established customer base and commitment to safe, efficient operations. The CFO expresses confidence in the company's growth initiatives.

Ecoark Holdings (NASDAQ: ZEST) announced that stockholders of record as of September 30, 2022, will receive shares from the spin-offs of Fortium Holdings Corp and Enviro Technologies US Inc. Stockholders will receive 1 share plus a fractional share for each share owned. Recent stock exchanges have led Ecoark to obtain 42,253,521 shares of Fortium and plan a 4:1 forward stock split for Enviro. Additionally, Ecoark plans to file a Form 10 for its subsidiary Zest Labs, aiming for a record date of November 15, 2022, for the Zest stock dividend.

Ecoark Holdings, Inc. (NASDAQ: ZEST) has successfully completed a reverse merger with Enviro Technologies US, Inc. (OTC: EVTN) to divest its subsidiary, Banner Midstream Corp. Following the merger on August 23, 2022, Ecoark holds approximately 70% of Enviro's common stock. Enviro plans to implement a 4:1 forward stock split to facilitate a stock dividend for Ecoark shareholders. The management anticipates this transaction will lead to accretive growth and diversification in oilfield services, enhancing shareholder value.

Ecoark Holdings announced a significant milestone with its subsidiary White River Operating's successful workover on the Deshotel Well in Louisiana, resulting in a remarkable over 500% increase in oil production rates.

This project, aimed at resolving paraffin blockages, led to peak production rates of 30 barrels per hour. Ecoark, which owns 70% of Fortium, plans to expand drilling activities and optimize existing wells. Furthermore, White River is enhancing its operations with two additional drilling rigs.