Verde Bio Holdings, Inc. (OTCQB: VBHI) (www.verdebh.com) today said ten new permits have been filed on its oil properties in the prolific Permian Basin. A permit indicates an intention to drill.
“The experienced operators filing the permits are SEM, Ovintiv and EOG. With crude oil consistently trading above $100, new oil found on our properties means more revenues for VBHI and for its investors. These potential additional revenues do not require any additional investment by VBHI, the mineral and royalty owner,” said Scott Cox, Verde Bio Founder and CEO. “We were very diligent in buying properties based on lower gas and oil prices, thus the Company and its investors reap the benefits of the rise in commodity pricing.”
“Shareholders should know Verde Bio continues to evaluate other potential, strategic, acquisitions to expand the portfolio, including alternative energy projects,” Mr. Cox said. “We were very pleased to recently announce a new oil royalty acquisition in the Bakken Shale.”
About Verde Bio Holdings, Inc.
Verde Bio Holdings, Inc. (OTC: VBHI) is an Energy Company based in Frisco, Texas, engaged in the acquisition and management of Mineral and Royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete software development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2021 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Paul Knopick, E & E Communications