Another nice piece of news out on the company today. Getting their filings current while bringing on more revenue producing wells will be a big boost for Maxwell. I have heard from reliable sources that Mr. Edwards is honest, intelligent and will make this company a success. From reading this new PR, they are acquiring more properties while the oil & gas space is out of favor, smart game plan since we all know oil and gas will comeback, more than likely in 2016. The US, despite what the dems. say, is a very,very long way off from even lowering it's dependence on fossil fuels. Plus, the first main focus of reduced use will be coal and in most high volume cases, (power plants) coal is being replaced with what else...natural gas, which is exactly what Maxwell is building a company around. Lastly, since it is obvious they want to do more land deals and are probably not sitting on a load of cash yet, my HUNCH is they have to get their stock price up in value to a point where they can use shares as currency to acquire more properties. What that point is I do not know, guessing at least .40 - .50 per share. I am a buyer and adding to my position here under .02 and will continue to do so...stock was at .07 just a few months ago. I like this opportunity a lot.
Maxwell Resources Announces Engagement of Independent Auditing Firm
9:11 am ET December 9, 2015 (Globe Newswire) Print
Maxwell Resources, Inc. (OTC Pink:MAXE), an Oil and Gas company located in Dallas, Texas, announced today that it has engaged the auditing firm of Montgomery, Coscia, Greilich, LLP of Dallas TX, as its independent registering accounting firm to audit the Company's financial statements. The Company is working diligently to regain compliance with its SEC reporting obligations.
The Company also announced that the "SGG" well that was brought online in October has performed according to management's expectations. "As part of the staged rework we have installed a compressor to improve and stabilize the flow rate. That installation was successfully completed this week and we look forward to realizing the improved results in the near term." Mike Edwards, Chief Executive Officer
The "Temple" gas well rework commenced in early November as was reported in October. Unfortunately due to rain and subsequent wet conditions restricting access to the well site via incoming unpaved roads, installation of some of the needed equipment was delayed from the originally planned schedule. However, the field team has now successfully installed the needed dehydration vertical tower, relocated the separator, and installed a needed additional water collection tank at the sale point of the transmission pipeline. Final adjustments and verification that all lines, and equipment are operating properly is underway now, and it is anticipated that the well will flow gas within the next few days.
Furthermore the "Henchin" gas well rework will begin immediately following completion of the Temple well. "Pending cooperation of the weather, we anticipate all three wells will be online by the end of December." stated Mr. Edwards.
Mr. Edwards continued, "As previously announced, management continues to review and analyze multiple prospective oil and gas projects ranging from medium size to large acreage. We anticipate announcing additional acquisitions of producing properties that present value to the Company in the near future. As always our goal is to build a solid business and increase shareholder value."
