Business
Manganese X Negotiating Significant Oil and Gas Transaction
Montreal, Quebec:--(Newsfile Corp. - March 2, 2018) - Manganese X Energy Corp. (TSXV: MN) (...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"Manganese X Negotiating Significant Oil and Gas TransactionTo Purchase Interest in Private Canadian Oil and Gas Company with Agreement for Breakthrough Schlumberger Technology for Enhancing Oil and Gas ProductionMontreal, Quebec:--(Newsfile Corp. - March 2, 2018) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE:9SC2)(OTC Pink: SNCGF) ( \"Manganese X\" ) is currently in negotiations to purchase an interest in a privately owned Canadian Oil and Gas company (\"Privateco\"). Privateco has a contract with Schlumberger Limited, an oil and gas services company ( SLB on the NYSE market cap $92.2 billion US.) to utilize a newly developed technology that increases oil and gas yields. Privateco will utilize this with their existing oil and gas properties as well as any future oil and gas acquisitions which have been approved by Schlumberger. Schlumberger will finance this implementation and receive 30% of the profits from the increased outputs.The investment in Privateco is expected to generate dividends to Manganese X which will finance the Battery Hill project and reduce further dilution to Manganese X shareholders. Further details will be released at the appropriate time. About Manganese X EnergyManganese X Energy's mission is to acquire and advance high potential manganese prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries as well as the steel industry. In addition, our company is striving to achieve new methodologies emanating with environmentally friendly green/zero emissions processes and producing manganese at a lower competitive cost.For more information, visit the website at www.manganesexenergycorp.com.ON BEHALF OF THE BOARD OF DIRECTORSMartin KepmanCEO and [email protected] Note Regarding Forward-Looking Statements:Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains \"forward-looking information\" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the act...