Norris Industries, Inc.
Irving, TX 75038 5525 N. McArthur Blvd, Suite 280
NRIS SECURITY DETAILS
OTCQB Member Since 04/2016
Verified Profile 09/2017
Transfer Agent Verified
Held at DTC
No Par Value
International Western Petroleum, Inc. (“the Company” or “IWP”) is a Texas-based E&P company that focuses on the acquisition, development, and exploration of crude oil and natural gas properties in Texas. Operated out of Irving, Texas, we are actively looking to acquire oil and gas properties and apply latest technologies and production know-how to increase production and reserves. Our corporate culture cultivates a strong passion in exploring new technologies in everything we do.
The Company currently owns working interests of 3 oil and gas production fields and has secured several concessions covering approximately 2,400 acres in the Central West Texas region. Outside of the Central West Texas region and within the United States, the Company has accessibility to approximately 95,000 acres of large-reserve oil and gas concessions, currently under management review for acquisition efforts.
While there is tremendous upside potential in the Company’s current leasehold acreage and associated prospects, the Company is continuing to prospect several lucrative exploration projects in the prolific Bend Arch region which is approximately 120 miles long and 40 miles wide running from Archer County, Texas in the north to Brown County, Texas in the south. This area has been one of the most active drilling areas during the recent resurgence of United States drilling activities.
The Company’s management team believes that the Company has the capacity and capability to take potential oil and gas reservoirs and develop them from the ground floor to completion. From evaluating seismic data, to the final steps of drilling, testing, completing and proceeding to production, our staff has expertise in geology, petroleum engineering, geophysics and mechanical engineering. The Company is currently developing several acquisition candidates including existing hydrocarbon production and proven reserve hydrocarbon land leases capable of additional drillings with strong upside potential.
International Western Petroleum specializes in shallow well exploration (less than 5,000 feet), and is initially focused on the acquisition, development and exploration of crude oil and natural gas plays in Central West Texas, Permian Basin and the Texas Gulf Coast. The Company is led by an experienced management team with a long history in the oil and gas industry, and our management team is seeking to take advantage of recent declines in oil and gas prices to acquire and develop attractive assets at what may prove to be opportunistic costs. In parallel with this strategy, the Company has applied to uplist its shares to the Nasdaq Capital Market, which, if successful, would be a major event for the Company that would lower its funding costs of acquisitions by expanding access to institutional investors, improving the liquidity of its common equity, and raising its profile in the industry.
The Company is actively looking for large-reserve oil & gas concessions and productions, aiming to participate with international capital partners for large-scale transactions related to buyouts and joint ventures. With a focus on taking
advantage of what we perceive as
attractively priced assets and
companies in a down oil market, we apply a four-pronged approach to our acquisition strategy:
acquire oil & gas companies with moderate growth that could accelerate production with new technologies and capital infusion;
acquire high-reserve leases and then enhance the value of the property by performing initial exploration activities;
acquire mature properties with attractive reserves whose production could be improved by state-of-the-art enhanced oil recovery (EOR) approach; and grow its reserves through new leases of promising properties.