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TICKERS: AMAZ

Firm Sells First Oil from Newly Acquired Wells in Mississippi
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Source:

The company provided an operational update and plan for the project.

Amazing Energy Oil & Gas Co. (AMAZ:OTCQX) sold the first two loads of oil produced from its recently acquired Denver Mint project in Mississippi, it announced in a news release.

Additionally, the company commenced the first phase of its four-phase plan to grow the production profile there. It is re-establishing the existing oil production capacity. Denver Mint consists of nine oil wells, a saltwater disposal well, 900 acres of leasehold and associated production facilities and infrastructure.

Amazing prepared the salt water disposal well for connection and passed the required inspection. Now, the company is in the process of reworking or making uphole recompletions in the nine wells, from which it expects to get 150300 barrels of oil production per day.

"We are excited to be selling production from our Denver Mint Project and to have entered the first phase of our plan to grow that profile," said Willard McAndrew, III, Amazing Energy's CEO. "Passing MIT inspection on our salt water well sets the table for the significant unrealized production capacity to be brought online."

"Over the coming weeks we will be improving wellbore integrity, perforating new zones and applying mechanical fixes to access untouched reserves. The addition of associated cash flow confirms our plan to grow through accretive acquisitions and organically through the drill bit," McAndrew added.

The second phase will involve conducting a waterflood pilot project in the Lower Tuscaloosa D sand. In the third phase, Amazing will test the shallow Yegua, Cook Mountain and Sparta targets above a 3,500 foot total measured depth. The last phase will entail recompleting the behind-pipe Lower Tuscaloosa zones, which will include sidetracking the Magee 34-1 well.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Amazing Energy. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Amazing Energy Oil & Gas, a company mentioned in this article.




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