$PSWW MERGING INTO OIL & GAS PERMIAN BASIN COMPANY
As filed in Quarterly Report 10/30/2019 The Company has identified and is currently in discussion with a Company within the oil and gas industry to engage in a merger and acquisition transaction. The Company estimates that this deal will be closed fourth quarter 2019. https://backend.otcmarkets.com/otcapi/company/financial-report/232964/content
GENERATIONAL OPPORTUNITY ACCORDING TO Attorney Letter with Respect to Current Information - Merger involves prolific Permian Basin - a generational opportunity.
$PSWW- 20,000 acres of OIL & GAS IN PROLIFIC PERMIAN BASIN With oil trading around $70 per barrel, among the most prolific of those wells could generate as much as $3.8 million per year in royalties .
Total value of property alone is estimated in excess of $400 mil. Today, leasing the mineral rights in the Permian Basin can cost as much as $40,000 an acre. Exxon Mobil recently bought a position of 1.8 million Permian acres at an implied per-acre price of $20,000.
Number of oil rigs drilling in the Permian in April. That was 44% of all rigs drilling in the U.S. and 22% of the number worldwide. The Permian boom has helped push U.S. production to a record 10.2 million barrels per day.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.