Amazing Energy Oil and Gas Co. (fka AMAZ)

[JBGoode]

Recent acquisition of additional Permian Basin assets

Amazing Energy Announces Transformational Acquisition of Wyatt Energy's New Mexico Permian Basin Assets; Reserves and Added San Andres Drilling Locations Exponentially Grow Company NAV

"The acreage position adds potential for 146 one-mile horizontal San Andres locations with stacked-pay potential and seven existing wells producing from the San Andres A and B formations. The existing wells expand Amazing's operations and production profile to now include two Permian Basin assets. Geologists, Petro-physicists and reservoir engineers have studied lease related technical data and concluded that while the San Andres formation will be the primary target zone for future development wells, geology indicates that there should be several other potential commercially productive zones to mitigate drilling risks. A reserve report produced by Ryder Scott estimates 20.2 million gross barrels of oil in reserves with a PV10 value of $146.7 million to the project and Estimated Ultimate Recoverable (EUR) 250 thousand barrels of oil (MBO) per well. The agreement includes Salt Water Disposal (SWD) facilities that the Company plans to convert for commercial disposal capabilities. The terms of the acquisition also include a fractional working interest in Wyatt's assets in Mississippi, known as the Chateau Project."