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Recharge’s new accommodation even includes provision for future expansion as it establishes a NI 43-101 compliant resource, carries out scoping studies, feasibility studies and moves forward towards the company’s ultimate goal of building a 20,000 tonne per year Ekosolve Lithium Extraction plant.
The Salta area has experienced significant drilling for lithium in a region that is anticipated to become a top producer globally. This had resulted in accommodation shortages that would have presented a significant challenge for this season’s campaign.
The camp is located in the village of Pocitos approximately 10 KM from the production-ready well drilled site on the Pocitos Salar.
Recharge continues to work closely with in-country advisors and the local community on the single 400-meter production diameter well located between the two previously drilled exploration HQ diamond drill holes. They have been positioned to confirm the continuity of the aquifer containing the lithium brines delineated during previous drill campaigns for the establishment of a NI 43-101 compliant resource report.
Recharge Resources Ltd. (‘Recharge’) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) announced today that its drill camp, including accommodation, is complete for the fully funded production-ready well drill program at the Pocitos 1 Lithium Brine Project in Salta, Argentina. Recharge’s CEO, QP, and consultants will be on site for the commencement of drilling.
Lithium values of up to 125 ppm from Laboratory analysis conducted by Alex Stewart were recorded by A.I.S. Resources Ltd (“AIS”) during the project’s first drill campaign in May 2018. AIS used a double packer sampling system in HQ Diamond drill holes drilled to a depth of 409 metres. The flow of brine was observed to continue for more than 5 hours. Both drill holes had exceptional brine flow rates. Recharge's plan is to drill a third production ready drill hole to work towards a NI 43-101 mineral resource calculation.
The Pocitos Project is located approximately 10km from the township of Pocitos where there is gas, electricity, mobile telephone, and internet services. Pocitos 1 is approximately 800 hectares and is accessible by road. Previous exploration teams have spent over USD $1.5 million exploring the project, including surface sampling, trenching, TEM geophysics and drilling two 400m holes that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.
Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr Thomas is independent of the company and neither he or his associated companies hold any shares or interest in Recharge Resources Limited.
The Company has entered into a 6-month marketing and consulting contract with Toronto based marketing firm, North Equities Corp. North Equities Corp. specializes in various social media platforms and will be able to facilitate greater awareness and widespread dissemination of the Company's news. In connection with the Contract, the Company will pay North Equities up to $300,000 CAD. North Equities currently owns 0 shares of the Company.
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
CEO and director, David Greenway states, "With drilling continuing down to the target production zone, we couldn’t be more excited for this monumental moment in time for the company at the Pocitos 1 Lithium Brine Project. With two existing discovery drill holes in place from 2018, this new drilling campaign will contribute to establishing a NI 43-101 mineral resource estimate. We continue to be thankful all those that have assisted us in bringing this project to this stage and look forward to continuing the path forward to the benefit of all stakeholders including the community of Pocitos, stakeholders of Recharge Resources and our growing team in Australia, Argentina, the USA and Canada.”
The high flow rate was encountered in both holes drilled in 2018. This high flow rate is expected to result in reduced operational costs in a reduction of pumps required, as well as ensuring the columns have sufficient brine with the Ekosolve™? extraction methodology contemplated for the Pocitos 1 project.
Lithium is selling in the spot market at 552,500 Yuan per tonne or the equivalent of US$75,627 per tonne according to Trading Economics. (October 25th, 2022)
Recharge team members were on site at the Pocitos 1 Project to see drill rigs arrive for the funded 400-meter exploration and then production diameter well campaign to confirm flow rates, lithium content and continuity of lithium brines flow delineated during previous drill campaigns toward the establishment of a NI 43-101 compliant resource and scoping studies for the development of up to 20,000 tonne per year Ekosolve™? production facility. Progress has been made on the base line environmental study and importantly the hydrological study to responsibly discharge the lithium deficient brine from EkoSolve™? process which is a major issue environmentally and the preparation puts Recharge Resources in excellent standing.
Upon completion of drilling the HQ diameter well, a rotary production rig will reem out the HQ to 20-25cm diameter well. Samples will be sent to two laboratories for QA/QC and 200L to Ekosolve to process and extract the lithium from the brine. During that time, flow testing will take place for 1-5 days and then over a 30 day period.
This past weekend as planned a steel pipe was cemented down to 50 meters to provide a casing and secure the hole for the HQ diameter drill head. The cementing process took two days to cure with drilling this week passing 100 metres continuing down to Recharge’s target production depth of 400 meters. The sedimentary clays encountered thus far has been consistent with the 2018 drilling with the Company anticipating being in the target aquifer zones next week.
$RECHF Recharge Resources Ltd. (“Recharge” or the “Company”) (RR: CSE) (RECHF: OTC) (SL50: Frankfurt) is pleased to announce the Company’s production diameter well drill program at its “Pocitos 1” Salar Lithium Brine Project in Salta, Argentina is ongoing to depth.
Several investors have inquired about our technologies and their state of development, Mr. Michael McLaren states “We are continuing to develop our technologies for market through our own internal resources and although our focus has been to push the oil and gas production higher, we have in no way put these technologies on the back burner.” Mr. McLaren further stated, “The hydrogen technology and GTL systems are our future, and we continue to develop them as part of our business plan.” “We have always had the strategy of developing a strong cashflow through traditional energy production and grow the technology internally without having to stress the company or its shareholders with large scale debt or dilution.” Mr. McLaren stated further “Since Xfuels has decided to market the Canadian properties the deployment of these technologies will now be focused on the newly acquired assets in Texas.”
The company continues to review potential acquisitions, however our focus now is the newly acquired properties in Texas and a plan is in place to workover and renew inactive wells and implement a drilling program after obtaining reserve reports and examining the acquired seismic data.
Xfuels continues to collaborate with the auditors and its financial support team to get our filings current and now are up to date with our unaudited financial statements and have returned to Pink current on the OTC markets. The system in place is working well and the acquired companies and assets are now integrated properly into daily operations. Our next step in this process is to complete the audit and file our registration statement to return to a fully reporting issuer. Management expects this process to be finished mid-November.
Cycle Oil & Gas Inc. (Texas) has successfully transferred 10 of the 18 leases acquired from Triple S Gas & Ray Loveless Enterprises. The Form P-4s were recorded with the Texas Railroad Commission this month. The company will now focus its attention towards increasing daily production via a series of low-cost workovers on low hanging fruit throughout the field. The current producing leases have averaged approximately 10BPD since August 1st. The company expects to place its remaining financial assurance with the TXRCC and complete the transfer of the remaining 8 leases in November under Cycle Energy Services Inc. (Texas)
$XFLS At the end of Q3 Cycle Oil & Gas Inc. (Texas) was successful in closing two significant transactions Triple S Gas and Ray Loveless Enterprises adding them to Cycle’s group of operational assets. Cycle Oil & Gas Ltd. (Alberta) was also successful with its Canadian assets bringing on new production through workovers. Mr. Michael McLaren states “The company had our service rig in our field for the better part of August and September and was successful in bringing on new production as well as retiring 2 unproductive wells thus reducing our liabilities and maintaining our commitment on asset retirement management.” He further stated, “We have been marketing the asset to a smaller focused group of potential buyers however with the current upswing in production and our asset retirement obligations met for the year the company will now branch out to a larger target audience.”
Looks like it’s about to wake up
Breakout board #1 hopefully we’ll get more eyes here
One day we will wake up and see a huge spike out of nowhere
Will we just gotta wait more time
great news/update today
no dillution at all here, just manipulation imho
To date Triple S gas has produced approximately 40,000 barrels from the properties and given the locations and well control in the area Cycle believes that this is only a fraction of the recoverable oil available.
The company is currently marketing its Canadian oil and gas properties and when sold will refocus that capital into its US operations.
Cycle paid $320,000 (Three Hundred and Twenty Thousand) dollars plus a 2.5 % capped ORRI to $250,000 (Two Hundred and Fifty Thousand) dollars.
Mr. Michael McLaren, CEO states, “This acquisition signifies our milestone leap into Texas oil and gas production business.” Mr. McLaren further states, “The acquisition will be our cornerstone property to build on, and the company is already in negotiations with synergistic properties.”
Xfuels Inc. (OTC: XFLS) announces Cycle Oil & Gas has concluded its acquisition of Triple S gas of Dallas, Texas in an all-cash deal for consisting of 7 leases, 54 wells and 6 oil batteries in Wichita and Wilbarger counties.
Not a big time holder here but still a holder
Easy money here people need to come on board
Trying to Get the word out on socials too
To date Ray Loveless Enterprises has produced approximately 25,000 barrels from the properties during their ownership and given the locations and well control in the area, Cycle believes that this is only a fraction of the recoverable oil available. Cycle Oil & Gas and Cycle Energy Services are licensed oil and gas producers in the state of Texas.
Mr. Michael McLaren, CEO states: “This acquisition makes the most economical sense for the company & its shareholders as commodity & fuel prices continue to increase. We will be able to keep our rig movements to a minimum and cut diesel usage. Our team in Texas is already working to evaluate these properties and eager to get focused on the project and push these leases to their maximum potential.” Mr. McLaren further states, “As stated before our business strategy of "Acquire, Restore, Produce and Consolidate" fits perfectly with these leases & existing contracts where we can apply our world-class know how and stimulation technologies to maximize the potential of the production.”
Xfuels Inc. (OTC Pink: XFLS) announces Cycle Oil & Gas has closed its purchase of Ray Loveless Enterprises LLC & R.L. Gathering LLC (RL), of Allen, Texas in an all-cash deal consisting of 10 leases, 106 wells, 10 oil batteries, 3 Acre industrial yard & Shop, & Equipment in Wichita County, TX. Cycle paid $250,000 (Two Hundred and Fifty Thousand) dollars plus a 2.5 % capped ORRI to $325,000 (Three Hundred Twenty-Five Thousand) dollars for a total purchase price of $575,000 (Five Hundred and Seventy-Five Thousand).
Adjacent to the "Ray Loveless" leases are 3 of the "Triple S Gas" leases that Cycle purchased and disclosed on September 29, 2022. The 13 combined leases "RLE & Triple S" fall within a 6 square mile radius that Cycle Oil & Gas will work to develop a workover program to bring nearly 80 shut-in wells back online through the use of their own rigs & licensed technologies. Cycle sees this as a prime opportunity to cut fuel costs & mob times on their service rigs from well to well, while increasing production and lowering lease operating expenses bottom line.
If 100,000,000 shares comes here we will fly back to 0.08 very fast
Shares structure very low compared to latest 1000%+ runners