Float is only 24,900,000!
Confirmed by OTCmarkets and CEO Archie Nesbitt on Dec 11, 2017.
The chart clearly shows company insider loading began on Friday Dec 8, 2017.
CEO Archie Nesbitt podcast from November 30, 2017
Marksmen Announces Drilling Results in Pickaway County, Ohio
CALGARY, Alberta, July 27, 2015 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSX-V:MAH) (OTCB Venture Marketplace:MKSEF) ("Marksmen" or the "Company") is pleased to announce that Marksmen has participated in the drilling of a well operated by its joint venture partners, Hocking Hills Energy and Well Services LLC ("HHE") and Chuck Henry Energy LLC ("CHE"). The well drilled is a Cambrian Knox remnant oil well, the Delong-Davis Unit #1, in Pickaway County, Ohio. Marksmen has a 45% working interest in the well.
The well was spudded on July 20, 2015 and reached its total depth on July 26, 2015 targeting a large Cambrian Knox remnant that was drilled based on the interpretation of new 3D seismic and encountered significant oil and gas shows in the top of the Cambrian Knox formation where open hole logs recorded porosities of greater than 20% over a 6 foot interval. Oil did circulate to surface.
The well is currently being completed for commercial production and is expected to have a pump-jack and bottom-hole equipment in place in a week with the tanks and other surface equipment to follow shortly. Production is expected to be on-line by mid-August. Marksmen believes that even at depressed WTI prices for oil, Marksmen's wells can be economically exploited because of the low drilling and operating costs for its shallow light oil drilling programs in Ohio.
This well was drilled based on the latest 3D seismic program completed in May 2015 with our joint venture partners HHE and CHE. The success of this well and the 3D seismic indicate there are at least two step out locations on this remnant. A number of other well locations in the 2015 3D target area are currently being permitted for drilling including the largest remnant identified by seismic, an offset to our Strittmatter #1 well.
To date Marksmen has conducted approximately 7 square miles of 3D seismic acquisition using Bay Geophysical of Traverse City, Michigan. Marksmen currently has leasehold interests aggregating approximately 12,000 acres in Pickaway County. Additional 3D seismic is planned for later this year.
Archie Nesbitt, CEO and President of Marksmen states "Marksmen is very pleased with the initial results from this well based on the very significant contribution that 3D seismic and its interpretation by our technical experts have made to the overall success to date. The program validates the importance of using the best 3D seismic techniques available to exploit the oil bearing zones in this part of Ohio."
Further information will be released as it becomes available.
For additional information regarding this news release please contact Archie Nesbitt, President, Chief Executive Officer and a Director of the Company at (403) 265-7270 or e-mail firstname.lastname@example.org.
Marksmen Announces Operational Update
OTC Disclosure & News Service
CALGARY, Alberta, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSX-V:MAH) (OTCQB:MKSEF) and its wholly owned subsidiary, Marksmen Energy USA, Inc., announce the following update on wells in Ohio, USA.
Hocking County - On November 27, 2017 Marksmen announced that it had entered into an agreement to acquire a 40% working interest (“WI”) in a horizontal well drilling program operated by Hocking Hills Energy and Well Services LLC (“HHE”), targeting the Clinton Sandstone formation. Today, Marksmen is announcing that it has agreed to acquire an additional 20% WI from HHE to increase Marksmen’s WI share in the well to 60%. The access road and drill pad are currently under construction and nearing completion. The drilling rig is expected to be on location in approximately one week and we anticipate running in approximately 500 feet of 9 5/8 inch surface casing and cementing it to surface on or before December 24, 2017. Immediately after the Holiday season, drilling will continue to the well’s target depth of 2,900 feet and then a horizontal section of 3,000 feet in the Clinton Sandstone formation.
Marksmen is also currently evaluating offset drilling opportunities on its current land position as well as other lands that have been made available to us from existing partners in Ohio.
For additional information regarding this news release please contact Archie Nesbitt, CEO and President at (403) 265-7270 email@example.com
December 12, 2017
Marksmen Announces Proposed Private Placement
OTC Disclosure & News Service
CALGARY, Alberta, Dec. 12, 2017 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSX-V:MAH) (OTCQB:MKSEF) announces that it plans to complete a non-brokered private placement of up to 3,000,000 units (the “Units”) of Marksmen at a price of $0.15 per Unit for aggregate gross proceeds of up to $450,000 (the “Offering”). There is no minimum Offering. The Units will be comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase warrant (“Warrant”) of Marksmen. Each whole Warrant entitles the holder thereof to purchase one Common Share for $0.30 expiring two (2) years from the date of the closing of the Offering.
Marksmen may pay a cash commission or finder's fee to qualified non-related parties of up to 8% of the gross proceeds of the Offering (up to $36,000) and broker warrants (the “Broker Warrants”) equal to up to 8% of the number of Units sold in the Offering (up to 240,000 Broker Warrants). Each Broker Warrant will entitle the holder to acquire one Common Share at a price of $0.15 per Broker Warrant for a period of one (1) year from the date of issuance.
Marksmen intends to use $400,000 of the net proceeds of the Offering to pay for capital expenditures related to the recently announced increase in the Company’s working interest in the Clinton Sandstone formation horizontal drilling program in Hocking County, Ohio from 40% to 60%, assuming the maximum proceeds under the Offering. The first well is scheduled to begin drilling on the Leaman #1 location later this month. If the net proceeds are greater than $400,000, the additional proceeds, up to $50,000, will be used for acquisition of oil and gas leases complimentary to lands already in the program and for additional geological and engineering support.
The Offering is being offered to all of the existing shareholders of Marksmen who are permitted to subscribe pursuant to the Existing Shareholder Exemption. This offer is open until December 22, 2017 or such other date or dates as the Company determines and one or more closings are expected to occur, with the first closing anticipated for December 22, 2017. Any existing shareholders interested in participating in the Offering should contact the Company pursuant to the contact information set forth below.
The Corporation has set December 11, 2017 as the record date for the purpose of determining existing shareholders entitled to subscribe for Units pursuant to the Existing Shareholder Exemption. Subscribers purchasing Units under the Existing Shareholder Exemption will need to represent in writing that they meet certain requirements of the Existing Shareholder Exemption, including that they were, on or before the record date, a shareholder of the Company and still are a shareholder as at the closing date. The aggregate acquisition cost to a subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment.
As the Company is also relying on the Exemption for Sales to Purchasers Advised by Investment Dealers, it confirms that there is no material fact or material change related to the Company which has not been generally disclosed. In addition to offering the Units pursuant to the Existing Shareholder Exemption and to the Exemption for Sales to Purchasers Advised by Investment Dealers, the Units are also being offered pursuant to other available prospectus exemptions, including sales to accredited investors. Unless the Company determines to increase the gross proceeds of the Offering, if subscriptions received for the Offering based on all available exemptions exceed the maximum Offering amount of $450,000, Units will be allocated pro rata among all subscribers qualifying under all available exemptions.
Completion of the Offering is subject to regulatory approval including, but not limited to, the approval of the TSX Venture Exchange. The Common Shares and Warrants issued will be subject to a four month hold period from the date of the closing of the Offering.
It is expected that insiders of the Company will participate in the Offering.
In addition, the Company announces the granting to employees, management, executives, consultants and members of the Board of Directors of 1,450,000 Stock Options pursuant to the Stock Option Plan of the Company. The options are for a period of five years and have an exercise price of $0.20 per share. One third (1/3) of the options will vest immediately, one-third (1/3) will vest on the first anniversary, and the final one-third (1/3) will vest on the second anniversary. The options are being issued to replace Stock Options that expired on December 4, 2017.
For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail firstname.lastname@example.org.
Clinton Sandstone formation background: