$XFLS - Fresh and Comprehensive review of high value

New Post Public Reply Private Reply Replies (0) Message Board
Lee Adams
205
$XFLS - Fresh and Comprehensive review of high value oilfield operations released...

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.

Technology Developments

Cycle continues to develop its mobile GTL (Gas to Liquid) system and is presently in negotiations to deploy the first pilot plan here in Alberta. The pilot system will produce approximately 5 metric tons (approximately 1320 gallons) of C5+ hydrocarbons plus Fischer Tropsch wax. FT synthetic waxes are made using carbon monoxide and hydrogen as feedstock, producing hydrocarbons of consistently high purity and quality creating a very high value product on the average of $US2000/m3. The structure of the wax results in many desirable properties and is often used in hot melt adhesives, printing inks and coatings, polymer processing and polishes and textiles. The system will be used as a pilot to determine follow-on larger systems in both the US and Canada.

Corporate Developments

The company continues to work on its audited financials and registration statement and expect to be competed and filed by the end of August.

Cycle Energy is a fully integrated energy company that products responsible products both traditional and renewable. Our continued focus on carbon footprint reduction and streamlined oil and gas production not only benefit the environment and local communities but also add value to Cycle bottom line.

Through our 100% owned subsidiaries Harvest Petroleum and Hillsdale Drilling Cycle Energy Industries is now a licensed bonded operator in Alberta, Saskatchewan, California, Texas and Louisiana. Cycle expects over there next year to further expand our asset base in these areas.

The company continues as well to work towards our green initiative to produce carbon neutral products as well as integrate solar and other renewable technologies into our daily oil and gas production operations.

About Cycle Energy Industries

Cycle Energy Industries is a Canadian corporation based in the province of Alberta, and a unique energy provider that operates three vertically integrated business units in the WCSB (Western Canadian Sedimentary Basin). We have created a vertically integrated company where each subsidiary creates value and adds support to the other.

Cycle Oil and Gas focuses on acquiring & optimizing underdeveloped oil & gas assets and employs in-house developed & licensed technologies to increase production, optimize performance & reduce costs. The company currently produces approximately 100 barrels/day of oil as well as several non-operational properties and GORRS(Gross Overriding Royalties).

Cycle Energy Services supports our Exploration and Production (E&P) team with well services and end of life reclamation which gives the E&P company an unprecedented advantage over its competitors. This business plan excels by providing services that would otherwise be too costly and not financially viable for specific workovers or turn around projects. Cycle Energy Services owns and operates combo wireline-service rigs and Hydrovac Units. The focus of Cycle Energy Services is primarily end of life abandonment and reclamation of non-producing assets. The company excels by supplying fixed cost services via our custom rigs and equipment that results in reduced time onsite, faster rig in and rig out times as well as reduced number of vehicles onsite. Cycle's efficiencies reduce the amount of fuel burned to complete the abandonment and reduces the carbon footprint to abandon wells.

Cycle Energy Technologies provides both R&D capabilities as well as previously developed and licensed technologies that aid in increased production, reduced lifting and operation costs as well as gas and oil field intelligence. Cycle Energy Technologies flag ship technology is our mobile GTL (gas to liquid) system we have been developing and are currently implementing. This technology brings forth increased value to the group through Cycle's internal production of gas. The value is added by turning the gas into chemicals and C5+ hydrocarbons as a 3-4x multiple which is industry groundbreaking.

Safe Harbor

This release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Cycle Energy Industries Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Cycle Energy Industries Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Cycle Energy Industries Inc.'s filings with the Securities and Exchange Commission.

For further information please contact:
Cycle Energy Industries Inc. . Public Relations and Shareholder Information
Email: mikem@cyclenrgy.com
http://www.cycleind.com
Twitter @cycleindustries

Cision View original content:http://www.prnewswire.com/news-releases/cycle-energy-industries-shareholder-update-301096799.html

SOURCE Cycle Energy Industries Inc.
Scroll down for more posts ▼

Top 10 Most Recent News Articles

China's Capital Markets Eye Transformation 2026-2030

Updated Category News Views 25

China's Capital Markets: A New Era Dawns Guosen Securities is ringing the bell for a fundamental shift in China's capital markets, folks. As we're about to roll into the 15th Five-Year Plan period, they're not just talking about expansion anymore. Nope, it's all about reshaping the landscape with regulatory reforms, innovation, and international integration. If you think...

Continue Reading
Experts Unite to Tackle Drowsy Driving at NSF Forum

Updated Category News Views 36

Awareness With a Purpose Heads-up, folks: the National Sleep Foundation's bringing the cavalry on drowsy driving to Washington. It's almost surreal how often we ignore the sleepy-eyed driver next to us, isn't it? Yet, here we are, revving up for a gathering where they're gathering the nation's sharpest minds in sleep science and traffic safety under one roof. Why Drowsy...

Continue Reading
A.O. Smith Sells 81% of China Arm to CPE: Key Takeaways

Updated Category News Views 0

When a major player like A.O. Smith decides to offload a piece of its business, folks tend to sit up and pay attention. This isn't just some run-of-the-mill shuffling. A.O. Smith has inked a deal with CPE to hand over an 81% stake in its China business. What does this transaction bring to the table and who stands to gain? Broken Down for the Curious Investor The numbers...

Continue Reading
Caps & Closures Market's $104B Future Beckons Bold Moves

Updated Category News Views 51

Inspecting the Caps & Closures Boom Way I see it, the world's getting buttoned up and sealed tight, all thanks to the burgeoning caps & closures market. We're talking expansion from $85.9 billion in 2026 to a whopping $103.96 billion by 2031. That's a steady climb at a CAGR of 3.89%. What's fueling this surge? A mix of old standbys like food and beverage packaging, and...

Continue Reading
NACCO Industries Preps for Q3 Results and Call

Updated Category News Views 14

Anticipation Builds for NACCO's Q3 Financial Insights From the streets of Cleveland, NACCO Industries is ramping up to release their third quarter financial results for 2026. Mark your calendars for November 4, just after the market packs up for the day. Now, isn't it something to watch how these earnings reports seem to become a spectacle all their own? Promising...

Continue Reading
New Ambulatory Surgery Center in Alabama Breaks Ground

Updated Category News Views 7

Breaking New Ground: USOP and SOS Lead the Charge You can almost hear the construction noise starting up in Montgomery, Alabama, where U.S. Orthopaedic Partners (USOP) and Southern Orthopaedic Surgeons (SOS) have just launched an ambitious new project. They're not just cutting ceremonial ribbons; they're slicing into the future of orthopedic care in Central Alabama. The...

Continue Reading
Common Thread Advisors: Transforming Change in Business

Updated Category News Views 21

Navigating the Storm of Change: A New Player in Town You know, just when you think you've got the business world figured out, something sharp comes along. Today, it’s Common Thread Advisors, making its grand entrance to help organizations steer through the dense fog of change. This isn’t your everyday, run-of-the-mill consultancy. No sir, they’re out here with a...

Continue Reading
Heart Attack vs. Cardiac Arrest: Know the Differences

Updated Category News Views 31

Spotting the Crisis: Heart Attack or Cardiac Arrest? When your heart’s in trouble, knowing whether it’s a heart attack or cardiac arrest isn’t just some medical trivia—it could save a life. According to healthcare whiz Justin Doss from Beaumont, Texas, this difference can be the thin line between life and a dire outcome. What's the Deal with These Heart Events?...

Continue Reading
Justin Boots Revamps Ada with Bold New Colors

Updated Category News Views 80

Reimagining a Western Favorite Howdy, folks! A staple in the Western wear scene just got a fresh paint job, and it's got people talking from Fort Worth to far beyond. The beloved Ada boot from Justin Boots is sashaying its way back in five fresh colorways that slap a modern twist on a vintage favorite. It's like trying to breathe some new life into an old rodeo star,...

Continue Reading
HDR: Revolutionizing Future Video Entertainment Experiences

Updated Category News Views 106

HDR: The Unsung Hero of Video Quality Folks, let’s not kid around—high dynamic range (HDR) is no longer just the flashy chrome on the entertainment industry's Cadillac. It’s becoming the engine. Parks Associates’ recent snoop into the trends—that’s right, fresh off the presses from Plano, Texas—makes it clear: HDR is set to remake how we consume video on...

Continue Reading

Top 5 Most Recently Viewed Articles

SAINT BELLA Introduces Home-Based Postpartum Care Model

Updated Category News Views 14

Forget the old school notion of needing to uproot a new mom just to get postpartum care. SAINT BELLA is flipping the script with their In-Home Postpartum Care model right in Irvine and Newport Beach, California. No more packing bags and heading to confinement centers. New parents can now receive customized care in their own living space. Does it get any better than that?...

Continue Reading
Sequana Medical Reports Shareholder Transparency Update

Updated Category News Views 176

Sequana Medical's Commitment to Transparency Sequana Medical NV, a pioneering force in the treatment of drug-resistant fluid overload associated with liver disease, heart failure, and cancer, recently made headlines for its latest transparency notification. This announcement sheds light on the voting rights tied to significant shareholdings, reflecting the company's...

Continue Reading
Origin Bancorp Declares Cash Dividend Boosting Shareholder Value

Updated Category News Views 131

Origin Bancorp Announces Exciting Dividend for Shareholders Origin Bancorp, Inc. (NYSE: OBK), the proud parent company of Origin Bank, has just made a significant announcement that underscores its commitment to its investors. Recently, the board of directors approved a quarterly cash dividend of $0.15 per share for its common stock. This dividend is scheduled for...

Continue Reading
Leadership Transition Announced at Phoenix Children's Healthcare

Updated Category News Views 106

Phoenix Children's Announces Leadership Change Phoenix Children's, one of the largest pediatric healthcare systems in the nation, has recently revealed that Robert L. Meyer, the President and CEO, will be retiring after an incredible 22-year tenure. Without a doubt, Meyer's leadership has left an indelible mark on the organization, transforming it into a top-tier...

Continue Reading
Blend Welcomes Alex Sion as Leader in Financial Services

Updated Category News Views 85

Blend Welcomes Alex Sion as Financial Services Vertical Leader Blend, a frontrunner in data science and AI-powered solutions, is excited to announce the appointment of Alex Sion as the Financial Services Vertical Leader. With an impressive background spanning over two decades in digital transformation within the financial services sector, Sion's expertise will play a...

Continue Reading