XA Interactive Prepares for 7-10k Barrels of Oil Production Per Day Following the Acquisition of Louisiana Onshore Exploration

ORLANDO, FL / ACCESSWIRE / October 2, 2023 / Holiday Island Holdings, Inc. (OTC PINK:HIHI) recently completed a reverse-merger with XA Interactive, Inc., a natural resources and tech company specializing in secondary recovery of oil and gas. Having completed its acquisition of Louisiana Onshore Exploration, XA is preparing for expansion of its drilling operations on these Louisiana properties with estimated reserves of six-million barrels per square mile, spanning nearly 160 square miles in the Louisiana Austin Chalk. To review the reserve reports, click here.

"We have a six-month plan in place to permit and drill a 5,000 ft lateral and perform a modern completion technique via a multi-stage hydraulic fracture treatment." says Michael Prozer, Chairman of XA Interactive. "Our projections, models and geology suggest that if we are successful, each well could generate 7-10k barrels of oil, along with 9000 MCF of natural gas per day. The successful completion of this project has the potential to greatly boost our company's annual revenues."

The terms of the acquisition between XA and Louisiana Onshore Exploration (LOE) involve the issuance of $30 million in Preferred Series A shares to the LOE team over an 18-month period, with minimal impact on overall market capitalization. In exchange, XA assumes full ownership of all well production, revenues, and existing operations. XA also integrates the LOE team, which comprises key members such as Chris Roy, VP of Land; Ellis Guilbeau, VP of Exploration; and Jerred Clark, VP of Engineering, bringing a combined 70+ years of oil and gas expertise into its operations.

LOE has discovered 250 BCF and 10 million barrels of oil, helping to generate over $1 billion in sales as an operator. The team also generated the Thunder Bayou well, which became the nation's top gas-producing well for multiple consecutive years. This discovery continues to be a huge producer, amassing a reservoir of over 80 billion cubic feet of gas and more than 2 million barrels of condensate.

The acquisition was facilitated by Controlled Capital, a financial firm with a strong track record in assisting companies with capital raising and strategic investments. Josh Cohen, CEO at Controlled Capital, provided insights into the collaboration: "We are proud to be partnering with XA Interactive on this transformational project. Bringing XA and Louisiana Onshore Exploration together is proving to be a game changer for XA Interactive. XA's commitment to sustainability and innovation aligns perfectly with their investment strategy."