Business
Cycle Energy Purchases Harvest Petroleum
Cycle Energy Purchases Harvest Petroleum.
About this update from Xfuels Inc.
[{"type":"text","content":"\n\n\n\nCycle Energy Purchases Harvest Petroleum\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\nCycle Energy Purchases Harvest Petroleum\nPR Newswire\nCALGARY, Alberta, July 14, 2020\n\n\n\nCALGARY, Alberta, July 14, 2020 /PRNewswire/ -- Cycle Energy Industries (OTC: XFLS) signs purchase agreement for 100% of the issued and outstanding shares of Harvest Petroleum Inc. The purchase agreement states Cycle will purchase all of the issued and outstanding shares of Harvest Petroleum Inc. for an aggregate value of $US1,000,000.00 with a combination of cash, common stock and preferred shares.\nAs part of the transaction Mr. Robert Harvey will join the board of directors of Cycle Energy Industries Inc.\nCycle Energy's CEO Mr. Michael McLaren states, \"The purchase of Harvest Petroleum is a strategic acquisition for Cycle as we aggressively move forward into the US market having a trusted partner as well as an officer of our company.\" Mr. Michael McLaren further stated: \"Cycle Energy is excited for Harvest to be part of our group. This purchase will instill greater drive and motivation into Cycle's expanding assets in the oil and gas, oil and gas services, and field proven Cycle Energy technologies.\" \nMr. Robert Harvey Brings Extensive Experience to Cycle Energy's Team\nBob Harvey has over 20 years' experience in the upstream oil and gas industry. He is the Founder of Harvest Petroleum, Inc., in Texas (1998 – present), Louisiana (1998 - 2007), and California (2016 - present).  Bob has been active in all stages of drilling, completions, infrastructure build-out, production, operations, plugging; and field remediation. In a nutshell, if you're looking for a veteran operator in both the US and Canadian oil and gas scene, Bob Harvey is your man. \nBob began his expansive career in the oil and gas industry in 1989. Bob started in business development for American Cascade Energy of Houston. By 1990 he formed American Discovery Energy, Inc (ADE) to purchase non-operated interests in Texas, Kansas and Northern California.  Bob's generational ...