The famed discovery hit a 800 bbl a day in 1984, and it has yet to be fully developed.
Glenn Klinker and Mr. Alverico Asencio traveled with their team to central Texas to oversee the current Metcalf development and search for future projects with Benchmark Petroleum Partners.
The development is partnered with The Royal Family Oil Investment, LLC, with funding expected to be a $10 million endeavor, and it has a soft commitment based on future due diligence.
Glenn Klinker is quoted: “We hope this project leads to our first Horizontal Well, and it is expected to greatly increase our revenue at EP3.”
“The project is expected to be fully funded by mid-March. The expansion of EP3Oil has been tremendous, and we look forward to many more projects in 2024.”
The Royal Family Oil and Gas, LLC General Partner, Mr. Jose “Perry” Taveras, the head of the investment department, is quoted: “We are grateful for such a prosperous opportunity that EP3Oil has presented to us. This has all the makings to be a massive oil discovery. We look forward to working with Ep3 on this project.”
Mr Alverico Asencio, VP of Ep3Oil is quoted: “This is a tremendous opportunity and a total game changer for the whole EP3Oil family of shareholders. We have no doubts with this new partnership, and we expect other investors will look to partner with us in many others great endeavors.”
The Company will keep both its shareholders and public completely informed of the entire process as the details continue to develop. Please watch for press releases about the Company’s progress. For additional information, please visit the Company’s website at www.EP3Oil.com.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Contact:
Glenn Klinker – CEO & Chairman
Phone: 702-480-3215
Email: Gklinker@EP3OIL.com
Website: www.EP3Oil.com
