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Mineral Hill Industries Enters Into a LOI to Acquire Additional Oil Producing Properties in Oklahoma and Integrates an Experienced Operating Team
Mineral Hill Industries Enters Into a LOI to Acquire Additional Oil Producing Properties i...
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[{"type":"text","content":"\n\n\n\nMineral Hill Industries Enters Into a LOI to Acquire Additional Oil Producing Properties in Oklahoma and Integrates an Experienced Operating Team\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Jan. 14, 2019\n\n\n\n/THE SECURITIES BEING OFFERED HAVE NOT BEEN, NOR WILL BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS WITHOUT REGISTRATION OR APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENT OF SUCH ACT. THIS RELEASE DOES NOT CONSTITUTE AN OFFER FOR SALE OF SUCH SECURITIES IN THE UNITED STATES OF AMERICA./\nToronto: TSX-V: MHIFrankfurt: N8Z1/WKN: AODLHP OTC Market (US): MHIFF \n VANCOUVER, Jan. 14, 2019 /CNW/ - Further to the Company's announcement dated May 28, 2018, Mineral Hill Industries Ltd. (\"MHI\") or the \"Company\"), wishes to announce that it has signed a Letter of Intent (\"LOI\") to acquire additional oil producing assets in Oklahoma from a privately held Oil & Gas Company (the \"Target\"). The Target's team has acquired and operated its assets over the last 15 years developing a daily production capacity of 120- 150 bblspd.\nThe completion of this transaction will contribute to the Company's strategic vision not only to geographically increase the footprint of its previous acquisition located in close proximity of Oklahoma's \"STACK play\" in the Anadarko Basin, one of the best unconventional oil plays in the US, but will also fulfill Mineral Hill's objective to integrate a dedicated professional in-depth management team with over 60 years of combined operational and administrative experience within the Oil & Gas industry.\nTwo geological \"Reserve Reports\" were commissioned by the Target in July 2018 and were compiled by two independent petroleum consulting firms; both well established in Texas for over 40 years. ...