Xfuels Inc (XFLS)

[Jose Chavez]

$XFLS Specifically, Xfuels will be taking over 375 pumping units along with a wide range of other machinery and equipment that was appraised for over $15,000,000 at fair market value in 2018 by Expert Equipment Appraisal LLC.

“The Jubilee acquisition will mark a major milestone for us as we enter the US market,” said Mike McLaren, CEO of Xfuels. “We plan to add considerable volume to Jubilee’s current production by applying the same expertise and technology that has served us well in Canada.”

While many of the oil and gas assets in the Jubilee portfolio are now low producing or shut in, Xfuels expects to use Plasma Pulse Technology, along with other leading-edge extraction tools, to bring strategically targeted wells back to life.