Sixty Six Oilfield Services, Inc. Announces Letter of Intent to Acquire Local Rig Supply and Fabrication Company
New York, NY -- April 10, 2018 -- InvestorsHub NewsWire -- Sixty Six Oilfield Services, Inc. (OTCBB: SSOF) announces that it has signed a Letter of Intent to Acquire Five Star Rig and Supply, Inc., an Oklahoma based drilling rig and supply parts company for stock and cash. The principal stock holders of Five Star will receive a controlling block of the Company’s preferred stock. The Company plans to raise up to $20 Million in debt and expansion capital to acquire Five Star. The majority of this raise will be used to finance the purchase and resale of several drilling rigs. The Company and Five Star have been working together on this joint project which is expected to be completed during the second and third quarters of this year.
Dave T. Ho, the Company’s Chief Executive Officer, said “This acquisition of Five Star is an exciting development for Sixty Six. This transaction allows us to continue our focused growth within the drilling sector and will also enhance the bottom line for the overall benefit of the stockholders. Five Star’s overall revenue for 2017 was $6.7MM with net profits of $2.07MM. By combining the strengths of both companies we will be looking to effectively double the Company’s 2017 sales. We look forward to quickly completing the acquisition of Five Star in the coming weeks.”
Five Star Rig and Supply was founded in 1983 and is a complete oilfield supply and equipment company. Five Star was started as a local oil field supply company, but has evolved over the years to become a manufacturer of oilfield equipment such as centrifugal pumps, wireline machines, bug blowers, and FC-1000 and other 1000 HP mud pumps. Five Star also engages in rebuilds of oil field drilling equipment including air hoists, compressors, Kelly spinners and pipe spinners. Jason, Clayton, President of Five Star and the majority owner said “At Five Star Rig and Supply it is our mission to supply and manufacture products that are dependable, and be competitive in the oilfield industry. We have been looking to expand our footprint in the drilling supply market and by merging with Sixty Six we can now expand from a base of strength. The entry into the public market will enable more opportunities for us in global distribution and give us access to the capital markets.” More on Five Star can be found at www.fivestarrig.com
Finally, in accordance with the Letter of Intent with Five Star and the pending acquisition by the Company, Kenneth D. Bland has stepped down as the Chairman of the Company effective March 27th. The resignation has been filed with the State of Nevada. A new chairman will be nominated by the Board in due course pending completion of the planned acquisition and elected by the majority shareholders. Mr. Bland has also transferred all 3 million preferred shares in SSOF to CEO Dave Ho for the purpose of completing the acquisition of Five Star Rig and Supply, Inc.
About the Company
Sixty Six Oilfield Services, Inc. is located on Lexington Ave in Manhattan, NY and is a Nevada
registered holding company. The Company is actively pursuing a strategy of acquiring a diverse range of energy, strategic marketing and technology businesses for its portfolio. The Company is continuing to build its oilfield services business and will maintain its offices in Oklahoma City.
Learn more at www.sixtysixoilfield.com.
What you need,
when you need it.
66 Oilfield Services is a leader in supplying the oil and gas industry with the right equipment, at the right time, and the right price. Our nearly 6 decades of experience ensures that we have the inventory on-hand for the job you need to do.
66 Oilfield Services is your oilfield drilling equipment specialist.
Our best-in-class customer service ensures your project goes smoothly from start to finish. High customer satisfaction is paramount to our success. We work with wide range of clients from small operators to large E&P companies and we service our clients world-wide through our facilities in Oklahoma City, Germany, and Dubai.
Equipment & Services
For over 58 years, 66 Oilfield has been a leading industry expert in the drilling equipment sector. We offer equipment sales of new, used, and refurbished products that are tested and certified. Our wide range of equipment is sure to satisfy all your production needs.
Our rental department provides solutions for short and long term projects for both domestic and international markets. Our core offerings include supplying the industry with: custom drilling rigs, refurbished and certified rigs from 1000 to 3000 hp, drill pipe, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, tubing, casing, blow-out preventers, engines, compressors and other select equipment.
66 Oilfield Services is a third-generation heavy oil field equipment company founded by J.C. Houck in Oklahoma in 1959. We have a strong management and executive team with a proven technical and logistical track record of high value and performance. Please see our company information at Microcap Reporting.
*** SSOF Security Details ***
| ||Market Value1 ||$807,483 ||a/o Aug 28, 2017 |
| ||Authorized Shares ||500,000,000 ||a/o Jun 27, 2017 |
| ||Outstanding Shares ||474,990,000 ||a/o Jun 27, 2017 |
| ||-Restricted ||Not Available |
| ||-Unrestricted ||Not Available |
| ||Held at DTC ||Not Available |
| ||Float ||411,876,209 ||a/o Jun 27, 2017 |
| ||Par Value ||0.001 |
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Keep watching the shell swap!
Since the marijuana FAIL
and the CBD FAIL
they have tried a BOGUS restaurant merger that ALREADY FAILED
and have now gone to a oil merger play. Keep an eye on the playaz!
Latest team aka company management seems to have FRAUD ISSUES
******** UPDATE AS OF 12/16/2016 only 2 days later! ********
(right after Jackson Morris put his name on every position on 12/14/16
and exposed himself as the ONLY person running this farce)
the ORIGINAL Medically Minded on the Nevada SOS Business site
has been swapped to hide the history concerning this hoax company.
The original PROW Progressive Watch name has replaced Medically Minded
and been dissolved. Imagine that!
The Medically Minded registration is conveniently hidden in a
NEW registration but we know what they have done and will keep the
spotlight on the people behind the scams.
BYE BYE MEDICALLY MINDED
"the Company and the person from whom the Company acquired Medically Minded entered into a
rescission of the acquisition"
From the annual report under section 9. Subsequent Events
JACKSON MORRIS aka Puppet Master?
Sobel NOT CEO, Sobel claimed to be president but his role is still being defined? REALLY?!
Not another peep about Heather Manus since they claimed her to be a director.
One of many reasons NOT TO UPDATE NEVADA? What are they hiding?
NOW WE SEE THE TRUTH! 12/14/16 FINALLY UPDATED NEVADA INFORMATION
but games being changed(see updated info above)
The puppet master is in sole control, AS EXPECTED
Why is Brian Hemphill listed on this MEDICALLY MINDED INTERNATIONAL, Inc
business license in FLORIDA where this shell game now resides according to OTC Markets data?
NOW "administratively desolved" on 1/27/2017 before the latest bogus restaurant
merger that has now FAILED TO COME TO FRUITION and gone to oil now.
Brian Hemphill and Jackson Morris were also part of the previous fiasco known as Mobile Broadcasting
with their buddy Ken Bland. That one cost shareholders a lot of hard earned money.
And for all who doubt Medically Minded International, Inc is one in the same, the latest OTC update shows
Why all the bogus confusion?
Don't get caught up in smoke and mirrors folks!
It's really simple!
PR says 8 payments of undisclosed amount up to September 30, 2020
Then we get a CLAIM OF A CONVERSATION in which we are told JIM SAID quarterly payments of $25K
The problem is the time period layed out would be 13 payments and they ONLY TOTAL $325K of the owed $450K
That's it! Now it's up to you to decide who is tossing around the bullshit. LATEST UPDATE! What are these scammer up to now?
The overly hyped oil pipe company CHANGED THEIR NAME in Nevada,
INCREASED their authorized to 700,000,000 from 500M and
ALL OFFICERS RESIGNED http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=Qr%252f4PrXulTXc1BvwYzXDww%253d%253d&CorpName=10SION+HOLDINGS%2c+INC. If everything was rosey at Sixty Six Oil then why did they change their name and ALL OFFICERS RESIGNED?
NEXT JACKSON MORRIS PUMP AND DUMP ON THE WAY!!!!! NEXT STEP IN THE ONGOING FLIP FLOP!
New address? 450 Lexington Ave 4th floor New York, NY
ANOTHER VIRTUAL OFFICE SPACE
NEW OFFICERS but WHY after the company CLAIMS "a banner year" in 2017?
Fraizer moved to a lesser position after doing so well? SMELLS LIKE BS!!!! YEP! ANOTHER SWAP IN OFFICERS CONFIRMED!!! BLAND AND MORRIS BACK IN THE SPOTLIGHT
SSOF FARCE DEAD?
PRed CEO DAVE HO FINALLY ADDED TO NVSOS LIST AS DIRECTOR? NOT CEO
WHY ALL THE BS GAMES? BLAND AND MORRIS STILL RUNNING THIS POS!!!!!!!
SMOKE AND MIRRORS TEAM WORKING ON NEXT DIRECTION CHANGE
UPDATE: PUPPET MASTERS BUCKLED UNDER SCRUTINY AGAIN!!!!!!!
DAVE HO NOW ADDED TO OFFICERS POSITIONS AS BLAND AND MORRIS
ATTEMPT TO RETREAT INTO THE SMOKE AGAIN.
BUT WE ALL KNOW THE SCAM LIVES ON SMART MONEY SEES THROUGH THE SMOKE AND MIRRORS!
Ask yourself why someone that took over $400K in debt could possibly have that much money yet be so damn stupid?
Why would a seemingly well to do smart business saavy person "forgive" the debt right after the company CLAIMED to have a "BANNER YEAR"?
This is a typical stupid mistake by the BLAND/MORRIS PUPPET MASTERS.
NOBODY, in their right mind, would FORGIVE $400K when the company is claiming: Sixty Six Oilfield Services, Inc. (OTCBB: SSOF) is excited to announce 2017 year end net revenue estimate of $1,142m on gross sales of $5,957m. Compared to 2016 with $695k of net revenue on gross sales of $3,920m, the Company anticipates year over year improvements of approximately 52% in gross sales and 64% in net revenue. The Company increased its margins from 19% to 24%.
And people wonder why, after all the CLAIMED great news, CLAIMED hotshot CEO and all the rest of the fluff, the stock can't hold a gain.
WELL, after years of BULLSHIT and many stung investors, the lies just aren't suckering in the masses anymore. They PAID Quality Stocks for a interview that was a REHASH of all the crap that is already out here. Sadly, everybody knows that company is a tool for pump and dump campaigns.
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