$MDMP July Field Updates News Link: https://www
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Posted On: 07/13/2022 8:06:18 AM
$MDMP July Field Updates
News Link: https://www.otcmarkets.com/otcapi/company/dns...65/content
MDM Permian, Inc. and MDM Energy, Inc.
MDM Field Updates
Nolan County, Texas; Irion County, Texas; Wise County, Texas
Brown #1 well in Nolan County, Texas, continues to pump after a re-work. The last gauge showed 45 barrels of total fluid, 15 barrels of water and 30 barrels of oil. The well is scheduled for hookup to the main tank battery. The frack tanks have approximately 300 barrels of oil that will be transferred to the tank battery and prepared for sale.
We currently have 2 drilling permits, one on the Brown offsetting the #1 well, and one on the Lindley A lease, offsetting the plugged 1-A. This well had a very good Clearfork section but had questionable cement behind pipe. We made the decision to plug the well and drill a new one to 4000 ft. and be able to do a good cement job and reap the benefits of the section. The well also has potential in the San Angelo at approximately 2000 ft.
We have surveyed 3 additional locations on the Lindley lease, Irion County, for the investors and drilling is scheduled for later this summer. The first will be the Lindley A-5 which offsets the plugged A-1 well. The A-5 will be a Clearfork test at a depth of 4000’. The company has exercised an option for additional acreage and assignments are being prepared for filing in the Irion County courthouse.
We continue to receive revenue from our 2% OR on a field of wells in Illinois.
The Kew Peacock well in Wise County, Texas continues as a gas well and makes about 8 blbs of oil a month. We should sell oil from this lease next soon. MDM receives 5% W.I. from this well for both oil and gas. MDM has assessed wells in the immediate area that have expired leases due to non-production. These wells can be obtained by executing new leases with the mineral/ landowners. Most of the wells need to have paraffin cleaned out and/or uphole zones opened for production.
WE continue to work diligently with the auditors to get the final audit letter. Once received, we can then immediately file for up listing to QB. We will also have our attorneys finalize the application for the Reg A offering and submit to the SEC. for approval.
Michael L. Rafael, President
MDM Permian, Inc.
MDM Energy, Inc.
News Link: https://www.otcmarkets.com/otcapi/company/dns...65/content
MDM Permian, Inc. and MDM Energy, Inc.
MDM Field Updates
Nolan County, Texas; Irion County, Texas; Wise County, Texas
Brown #1 well in Nolan County, Texas, continues to pump after a re-work. The last gauge showed 45 barrels of total fluid, 15 barrels of water and 30 barrels of oil. The well is scheduled for hookup to the main tank battery. The frack tanks have approximately 300 barrels of oil that will be transferred to the tank battery and prepared for sale.
We currently have 2 drilling permits, one on the Brown offsetting the #1 well, and one on the Lindley A lease, offsetting the plugged 1-A. This well had a very good Clearfork section but had questionable cement behind pipe. We made the decision to plug the well and drill a new one to 4000 ft. and be able to do a good cement job and reap the benefits of the section. The well also has potential in the San Angelo at approximately 2000 ft.
We have surveyed 3 additional locations on the Lindley lease, Irion County, for the investors and drilling is scheduled for later this summer. The first will be the Lindley A-5 which offsets the plugged A-1 well. The A-5 will be a Clearfork test at a depth of 4000’. The company has exercised an option for additional acreage and assignments are being prepared for filing in the Irion County courthouse.
We continue to receive revenue from our 2% OR on a field of wells in Illinois.
The Kew Peacock well in Wise County, Texas continues as a gas well and makes about 8 blbs of oil a month. We should sell oil from this lease next soon. MDM receives 5% W.I. from this well for both oil and gas. MDM has assessed wells in the immediate area that have expired leases due to non-production. These wells can be obtained by executing new leases with the mineral/ landowners. Most of the wells need to have paraffin cleaned out and/or uphole zones opened for production.
WE continue to work diligently with the auditors to get the final audit letter. Once received, we can then immediately file for up listing to QB. We will also have our attorneys finalize the application for the Reg A offering and submit to the SEC. for approval.
Michael L. Rafael, President
MDM Permian, Inc.
MDM Energy, Inc.
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