Same old Same old. Show me the drilling permits. RRC.texas.gov.
Carrollton, Texas, September 9th, 2021, MDM Permian Inc. (OTCPK: MDMP) today has
announced continued good news and advances in our overall business plan in the Permian
Basin.
MDM Permian has just completed a 4-year focused study, on a 24 sq. mile area in the Permian
Basin. There are several over-looked targets in this area that have been identified, including the
San Angelo, Clear Fork, Wichita Albany, Dean Wolfcamp and Canyon Sands formations. Third
party engineers have confirmed an estimated 84 million barrels of producible oil in place from
all sections combined. At today’s prices, this area has an estimated value of as much as $5b in
undiscounted future revenues at current prices. The company plans to drill only vertical wells
that are low risk and cost as compared to horizontal wells (HZ). It estimated Lease Operating
Cost (LOE) is $8.00 per BOE-on risk adjusted return.
The Company is now planning to go into the drilling and development phase.
About MDM Permian, Inc.:
Based in Carrolton, Texas, MDM Permian, Inc. is a publicly traded energy company with
interests in oil and natural gas wells, mineral prospects. The Company’s business plan includes
building value through reserves and production in the Permian Basin of Texas. MDM Energy,
Inc. (the wholly owned operating subsidiary of MDM Permian, Inc.), has been actively involved
in the oil and gas industry since 1981 with offices located in Carrolton, Texas. Michael Rafael
has 40 years of experience in the oil and gas industry, serving as founder, President and Chief
Executive Officer of MDM Energy, Inc.(“MDM”).
FORWARD-LOOKING STATEMENTS
Statements related to outlooks, projections, goals, targets, descriptions of strategic plans and objectives, and other
statements of future events or conditions are forward-looking statements. Actual future results, including financial and
operating performance; total capital expenditures and mix; cost and expense reductions; emissions intensity and
absolute emission reductions; cash flow, dividends, debt levels, and shareholder returns; business and project plans,
timing, costs, capacities, and returns; asset management activities; results from settlement of outstanding derivatives;
workforce reductions; the outcome of litigation, tax, and other contingencies; and future accounting and financial
reporting effects of the foregoing could differ materially due to a number of factors. These include global or regional
changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market conditions
that impact prices and differentials; actions of competitors and commercial counterparties; the ability to access shortand long-term debt markets on a timely and affordable basis; the ultimate impacts of COVID-19, including the extent
and nature of further outbreaks and the effects of government responses on people and economies; reservoir
performance; the outcome of exploration projects; timely completion of development and other construction projects;
changes in law, taxes, or regulation including environmental regulations, trade sanctions, and timely granting of
governmental permits; government policies and support and market demand for low carbon technologies like carbon
capture; war, and other political or security disturbances; opportunities for potential investments or divestments and
satisfaction of applicable conditions to closing, including regulatory approvals; the capture of efficiencies within and
between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies while maintaining
future competitive positioning; unforeseen technical or operating difficulties and unplanned maintenance; the
development and competitiveness of alternative energy and emission reduction technologies; the results of research
programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors
discussed in this report. We assume no duty to update these statements as of any future date.
mdmpermian.com
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Bearish
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