125 0 Kommentare BlueFire Equipment Corp (BLFR) Acquires Screaming Eagle Partners, LLC, a Cashflow Positive Family-Owned Oil & Gas Company in Texas - Seite 2

The Transaction:

Through an all-stock transaction, the owners merged Screaming Eagle into BLFR in return for the issuance of 45,000,000 shares of Preferred Stock Series A and 810,000 shares of Preferred Stock Series B shares. Current CFO of Screaming Eagle, Matthew Goldston., has been appointed as Chief Financial Officer (CFO) and Nickolas S. Tabraue will retain his position as a Director of the Board, Interim Chief Executive Officer (CEO), Chief Compliance Officer (CCO), and Chief Investor Relations Officer (CIR). Furthermore, the appointment of Kirk Yariger as Chairman of the Board and Jonas Crafts as Directors of the Board of BLFR.

New Direction:

Screaming Eagle’s Short-Term Plan

Beginning during Q4 2023 Screaming Eagle will execute a three well horizontal side track drilling program on the Bedias Creek asset and an eleven well clean out program on the Gin Creek Asset with 50% operating partner Exponent.
Screaming Eagle has over 200 drill sites identified on this property.
Screaming Eagle has over 5 stacked pay zones on this property.
Current wells were drilled on 700 acres spacing with only 40 acres being depleted in each well.
The plan is to drill horizontal slim hole sidetracks in existing vertical well bores on wells with flat decline curves in producing zones.
Expected Initial production of the first 6 wells is 800-1,200 bbls/day.
Screaming Eagle expects to acquire an additional 1,800 bbls/day in Q4 2023 through the acquisition of another blue chip producing asset in Texas with shale and Austin Chalk producing formations.

BLFR’s Short-Term Plan

Engage a firm to plan and assist on working towards uplisting to the Nasdaq.
Engage a PCAOB auditor to commence company audit.
Cancel 18 million shares of the Company’s Outstanding Common Stock.
Change the Company’s name and stock symbol suited for its new direction.
Create an investor informative website for the Company.
Engage a branding and marketing firm for the Company’s new direction upon the completion of the stock symbol and name change.

About BlueFire Equipment Corp. (BLFR)

BLFR is specialized in emerging industries acquisitions with an emphasis in the business in the industrial space. BLFR is currently focused on its recent acquisition, Screaming Eagle Partners, LLC., its first of many to acquire oil and gas company operating in the state of Texas.