Harrison, NY / YOLOWIRE / January 29, 2025 / Ron Minsky, Chairman and CEO of %Metawells Oil and Gas Inc. (OTC: $KOSK), announced today that they have presented a draft merger and reorganization plan to South Plains Petroleum, Inc. to combine the two companies.
Joe D’Amico, Chairman and CEO of South Plains Petroleum, Inc., (www.southplainspetroleuminc.com) who recently joined the Board of Metawells has appointed a committee of independent South Plains’ Directors to review the draft and complete due diligence on the planned combination.
South Plains has multiple properties in both the Eastern Permian Basin of Texas and onshore Louisiana near the Gulf with significant proven %Oil and %Gas reserves awaiting development. South Plains’ management believes the development of these properties will result in substantial returns, mutually enhancing the Company’s cash flows and shareholder value.
Its combination with Metawells would set it up to follow the instructions of President Donald J. Trump to “drill, baby, drill”!
About Metawells Oil and Gas Inc.
Metawells Oil & Gas Inc., a development stage company, is pursuing the acquisition and development of domestic US oil and gas resources. The Company will seek opportunities in known productive basins in proven fields with proven reserves.
For more information:
Ronald Minsky, CEO
Phone: (212) 381-8029
contact@metawellsinc.com
Forward Looking Statement
Safe Harbor Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.
