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MCF Energy Closes Genexco Acquisition for Major Expansion in German Natural Gas Exploration
MCF Energy Closes Genexco Acquisition for Major Expansion in German Natural Gas Exploration ...
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[{"type":"text","content":"\n \n \n \n MCF Energy Closes Genexco Acquisition for Major Expansion in German Natural Gas Exploration\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 3, 2023\n \n \n /CNW/ -\n \n MCF Energy Ltd.\n \n (TSXV: MCF) (FRA: DC6) (OTCQX: MCFNF) (\"\n \n MCF\n \n \n Energy\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has completed its acquisition (\"\n \n Acquisition\n \n \"), previously announced on\n \n February 22, 2023\n \n , of German oil and gas interests through its purchase of all of the outstanding shares of Genexco GmbH, a private German oil and gas company. The Acquisition positions MCF Energy as a future leader in natural gas exploration in\n \n Germany\n \n , with 100% ownership and operatorship of its projects, and an expert in-country team.\n \n \n Highlights:\n \n \n \n MCF Energy gains 100% ownership of four licences at German natural gas exploration and development projects\n \n \n Portfolio to begin drill testing in the second half of 2023\n \n \n Proprietary database for 10 additional project areas\n \n \n Significant projects are under application with Acquisition consideration tied to their success\n \n \n Establishes MCF Energy as an active operating company in\n \n Germany\n \n with expert local team\n \n \n Actively targeting additional large-scale acquisitions throughout\n \n Europe\n \n \n \n \n The Acquisition of Genexco and its 20% participation in Genexco Gas GmbH has brought MCF Energy a substantial portfolio of assets and a clear pathway for growth in\n \n Germany's\n \n natural gas sector. The Company has secured licences for four large-scale project areas in Northern and Southern German, including Reudnitz, a confirmed gas discovery situated in a rural area southeast of\n \n Berlin\n \n . Previously, MCF Energy was earning a non-operating 50% economic interest in the Reudnitz licence, but with the Acquisition, the Company has gained full ownership and operatorship of the licence, providing greater control and flexibility over the pro...