84 million float. Once the leases are valued based on 2022 oil and gas prices, this stock will be multiple nickels in my humble opinion.
REPORT OF CASH FLOWS FROM MARCH TO MAY 2022
Gas well operations
Natural Gas sold $38,658.79 Natural Gas Produced but remain unpaid, 21,600 mcf @ $2.30/mcf $49,680.00 Revenues from Gas wells $88,338.79 Account Receivable from working interest owners $35,000.00 Total number of gas wells producing 12 Numbers of wells waiting to go on Pipelines 30 Expected Production when all gas wells are producing, 40 wells 1000 mcfd
Oil well Operations
Oil sold $33,284.29 Oil on hand to be sold, 636 barrels @$94/bbls $59,784.00 Total Oil Revenue $93,068.29 Number of oil wells producing 5 Number of Oil wells awaiting production 50 Expected Oil Production from all Wells 100 barrels per day
The company's recent activities contributed to the optimization and improvement of the company's overall value to create further revenue income, in our properties located in Beaver, Canadian, Creek, and Garfield counties in Oklahoma to optimize our existent oil & gas production.
Lastly, our reserve report and pending corporate actions are our priority to complete this Q2-2022. These initiatives, designed to enhance the efficiency of the organizational structure including new ventures and acquisitions, are necessary to improve the Company's production levels, reservoirs, and cost-effectiveness. Additional financing through a debt facility will be announced soon. The Company will use this capital to scale and develop the acreage (activate leases, turn wells on, and drill new wells).
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