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BlueFire Equipment Corp (BLFR) Shares a Letter from the Interim CEO with the Status on the Many Progressing Items
BlueFire Equipment Corp (BLFR) Shares a Letter from the Interim CEO with the Status on the Many Progressing Items.
About this update from Bluefire Equipment Corp.
[{"type":"text","content":"BlueFire Equipment Corp. (OTC: BLFR) (“BLFR” or the “Company”), a specialist in emerging industry acquisitions,today shares a letter from the Company’s Interim CEO and Director of the Board, Nickolas S. Tabraue with the status on the many progressing items.Dear Shareholders and Investors,Due to the week of November 19, 2023, Thanksgiving week, many businesses were closed, and individuals were not available. Due to this, it has unfortunately delayed many of the events/items that are being finalized. We were anticipating at least one to two of these items to have transpired to this week, but we are still waiting for reports and countered singed documents to return to management for the Company to upload and announce.The anticipated items being finalized are listed below with their status:Monthly third-party production reports.The company has had its 100% operating working interest production report since November 14, 2023, but has been waiting for its non-operating working interest production report from Exponent Energy. 4J Energy, LLC. and Exponent Energy and each month moving forward once received.Exponent Energy, LLC. became the new operator for the Company’s non-operating working interest at the end of September 2023. This is the first time the Company requests the reports from them but anticipates receiving them efficiently moving forward. The change in operators greatly benefits with Company due to Exponent Energy’s increased focus on the assets and willingness to work with the Company to significantly increase production with a target of 1,000 bbls/day by Q4 2024. Furthermore, Exponent Energy plans to take steps to decrease lease operating expenses by the end of 2023. These efforts will significantly increase profits for the Company in future periods since Screaming Eagle BNJ JV, LLC. receives 50% of the revenue, while the Company receives 90% out of Screaming Eagle Partners, LLC.Finalizing the Joint Operating Agreement with Resource Rock Exploration.Documents are being finalized after negotiating out Screaming Eagle BNR JV, LLC.’s current operator to transition to Resource Rock Exploration. Managements anticipates uploading and announce the executed Joint Operating Agreement once completed.Launching corporate and subsidiary websites.Currently being developed with the an anticipation to be completed within two weeks.Ac...