$XFLS News ~ Cycle Energy Industries Shareholder U
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Posted On: 08/04/2020 10:39:00 AM
$XFLS News ~ Cycle Energy Industries Shareholder Update
CALGARY, Alberta, July 21, 2020 /PRNewswire/ -- Cycle Energy Industries Inc. (OTC: XFLS) is pleased to report the following Shareholder update.
Acquisitions
On June 8th 2020, Xfuels purchased all the issued and outstanding shares of Cycle Energy Industries Ltd. The acquisition is now complete, and the company has been acquired by Xfuels and subsequent name and symbol change has been submitted to FINRA for approval.
On June 16th 2020, Cycle Energy announced it has increased its well abandonment fleet by the purchase of 3 new heavy vehicles to add to the companies abilities to execute workflow simultaneously. Cycle's proprietary technology is currently being implemented on the new vehicles and will be ready for deployment in early August.
On June 29th, 2020, Cycle Energy announced it has entered into a purchase agreement to buy 60% of Harvest Energy Northwest Lost Hills asset in California. Cycle purchased the majority working interest partner. To date, the shut in wells are being brought online and Cycle is working with US and Canadian government authorities to schedule when Cycle Energy Services can deploy its equipment to bring on the remaining workover projects as well as evaluate new drilling opportunities. Cycle is maximizing producing wells while implementing production increasing technologies.
On July 14th, 2020, Cycle entered into a purchase agreement to buy all the issued and outstanding shares of Harvest Petroleum Inc. of Prosper Texas. Currently, we are working with Harvest integrating procedures are being accomplished to move production online as well as find further acquisitions candidates in our license areas. With the purchase of Harvest Cycle now becomes 100% owner of the North West Lost Hills field and will focus capital to develop that asset out as a priority.
https://finance.yahoo.com/news/cycle-energy-i...00358.html
CALGARY, Alberta, July 21, 2020 /PRNewswire/ -- Cycle Energy Industries Inc. (OTC: XFLS) is pleased to report the following Shareholder update.
Acquisitions
On June 8th 2020, Xfuels purchased all the issued and outstanding shares of Cycle Energy Industries Ltd. The acquisition is now complete, and the company has been acquired by Xfuels and subsequent name and symbol change has been submitted to FINRA for approval.
On June 16th 2020, Cycle Energy announced it has increased its well abandonment fleet by the purchase of 3 new heavy vehicles to add to the companies abilities to execute workflow simultaneously. Cycle's proprietary technology is currently being implemented on the new vehicles and will be ready for deployment in early August.
On June 29th, 2020, Cycle Energy announced it has entered into a purchase agreement to buy 60% of Harvest Energy Northwest Lost Hills asset in California. Cycle purchased the majority working interest partner. To date, the shut in wells are being brought online and Cycle is working with US and Canadian government authorities to schedule when Cycle Energy Services can deploy its equipment to bring on the remaining workover projects as well as evaluate new drilling opportunities. Cycle is maximizing producing wells while implementing production increasing technologies.
On July 14th, 2020, Cycle entered into a purchase agreement to buy all the issued and outstanding shares of Harvest Petroleum Inc. of Prosper Texas. Currently, we are working with Harvest integrating procedures are being accomplished to move production online as well as find further acquisitions candidates in our license areas. With the purchase of Harvest Cycle now becomes 100% owner of the North West Lost Hills field and will focus capital to develop that asset out as a priority.
https://finance.yahoo.com/news/cycle-energy-i...00358.html
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