American International Holdings Corp (AMIH)

[MU_Redskin1]

AMIH will be increasing the oil/cash flow soon!

AMIH Subsidiary, Cycle Energy, Realizes Approximately 66% Oil Production Increase Over First Three Months of 2023

Electra, Texas, April 03, 2023 (GLOBE NEWSWIRE) -- American International Holdings Corp. (OTCQB: AMIH), (“AMIH” or the “Company”), a diversified holding company, has received its first Quarterly Field Operations Report (“QFOR”) relating to its newly acquired, wholly-owned subsidiary Cycle Energy Corp. (“Cycle Energy”). The QFOR covers, (1) Oil Well Production, (2) Well Re-completion Projects, and (3) Plugging and Reclamation Projects.

Oil Well Production:

Per the QFOR, Cycle Energy’s oil well production has increased from 15 barrels of oil per day to 25 barrels of oil per day between January 1, 2023, and March 31, 2023, representing a 66% increase. Cycle Energy anticipates that, upon final accounting, its production for March will exceed any month since July 2022.

Much of Cycle Energy’s production growth can be attributed to its Texas team’s focus on increasing well run time and reliability. This has been accomplished through strategic low-cost workovers and repairs.

Oil Well Recompletions:

Per the QFOR, Cycle Energy is scheduled to refrac one of its most promising assets in 2023 Q3. So far in 2023 Q1, Cycle Energy has completed workovers across four leases. It has also scheduled two wells on its Cornelius lease (the “Cornelius Wells”) to be refrac’d early next week. The Cornelius Wells are producing from shallow sand formations at 770’ and have not been re-stimulated since their initial completion. Cycle Energy identified the Cornelius Wells as a primary target due to its initial production under a previous operator.

https://twitter.com/CycleNRG/status/1652006680475967489?cxt=HHwWgoC9xdfUje0tAAAA

GLTA AMIH! Cycle Energy!

Cheers, Red