Verde Bio Holdings Inc (VBHI)

[Jerry70]

$ VBHI. This was the last News for VBHI and all 8-K's are to verify the News.

FRISCO, TEXAS, May 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTC: VBHI), an oil and gas company, today announced that it has closed on the previously announced portfolio of mineral and royalty interests held by a private seller for a purchase price of $1,100,000 in cash. The interests to be acquired by Verde currently produces combined excellent revenues of approximately $24,000 per month and Verde is entitled to the cash flow from production attributable to the acquisition beginning on or after May 1, 2021.

Acquisition Highlights:

DJ Basin highlights:

oil-rich Mineral Interest in Larimer County, Colorado operated by Petro Operating and Extraction Oil and Gas, which just announced a $2.6 billion merger with dynamic DJ Basin pureplay operator, Bonanza Creek, to become Colorado’s first Net-Zero Oil and Gas Producer.

o13 wells currently in production across the acquired acreage producing approximately $20,000 per month in revenue.

the significant upside of expected untapped revenue with two wells currently shut-in.

Utica Shale highlights:

Utica Shale producing Mineral Interest in Belmont and Monroe Counties in Eastern Ohio, operated by Gulfport Oil and Gas which has more than 205,000 net acres in the Utica.

online wells currently producing revenue of approximately $1500 per month with the significant upside of three drilled uncompleted wells (DUC’s).

Piceance Basin highlights:

natural Gas rich Piceance Basin Overriding Royalty Interest in Garfield County in NW Colorado operated by Terra Energy Partners.

thirteen wells currently in production across the acquired acreage producing approximately $2,500 per month in revenue.



Verde continues to build a diversified, revenue-producing portfolio of high-quality assets. Today’s announcement brings the total number of acquisitions to 15. The current expected combined revenue from the acquisitions is approximately $82,000 per month or approximately $984,000 on an annualized basis once Verde is in pay status on all properties.



Scott Cox, CEO of Verde, said, “We are very excited to get these properties closed and rolled up into our portfolio. This is a great well-balanced portfolio of diversified interests, which adds significant revenue to Verde as well as adding a high level of assets to our balance sheet. We are proud to have built a company that is creative and flexible enough to take advantage of these significant deals as they come to market,” Mr. Cox added.”



“Deals like this continue to confirm our business plan of acquiring diversified minerals and royalties and building a diversified portfolio while taking advantage of the historic buyer’s market in the industry currently. We remain focused on executing our business plan and creating long-term value for our shareholders. Through our balanced approach of capital raising and acquisitions, we have begun to build a dynamic Company with significant revenue and assets and look forward to continuing to build on this through future strategic acquisitions,” Mr. Cox concluded.