Azure Holding Group Corp (AZRH)

[Controlledoilandgas]

First off - these wells were drilled in 1993. They are not junk, they are not all rusted out. Cohen posted pictures yesterday. The wells are in great condition.  The basher will stop at nothing to spread baseless lies and misinformation, out of some sort of obsession with wanting to see Cohen and his shareholders fail.
Second - cohen and Watson are funding capex themselves, and own 50% of the control block combined. They don't need to issue shares to dilute, and nor they do they even to need to raise outside capex to complete this remediation. That's also stated in the merger agreement.
Third - those "liabilities only become realIf the wells don't produce anything and are abandoned. They will never have to pay those liabilities, not for 20-30 years. Cohen and Watson know how to do this - and the basher has no clue what he's talking about, he's just full of smoke and hot air.
These are old Endeavor wells. The wells became uneconomical for Endeavor during the 2014-16 oil price crash resulting from Saudi Arabia / OPEC flooding the market - when oil prices go down, and wells shut in - rather than repair them, most operators just run with no remediation or capex. After endeavor sold the wells - they changed hands through a few flipper Operators (these operators don't fix to restore, they do the bare minimum to maintain production).
Production held stable at 110-120 barrels a day. 
When the wells were purchased by Vision, vision was over extended on the purchase and didn't have the field hands in-house. They were unable to pay the electric bills. 
This is actually a really light remediation and we've posted this multiple times now - no tubing / cement / casing replacements are required on the first 120 wells which what can take a $6k workover up to $25k, and no other insured to critical infrastructure.
The only work required is exactly what we've already said multiple times now - workover rig for 2 days per well (16 hours), rework or replace pump, run acid and chemicals. That's it. 
The 100 wells shut in will need more rework and may need casing jobs, and the group will evaluate those after the first phase of remediation.
The basher continues to be wrong and get defeated and he'll ruthlessly and shamelessly bash cohen because he's paid for by some corrupted party. Why! Who the f$ck knows...