Nexera Energy Inc Stock Price, News & Analysis

Nexera Energy Inc. (OTCPINK:EMBYF) issued a bi-weekly Default Status Report following delays in filing its annual financial statements due on April 25, 2022. The Alberta Securities Commission granted a Management Cease Trade Order restricting trading by insiders until the filings are completed, expected by May 30, 2022. No new material information affecting investors has been disclosed. The company will continue to provide updates every two weeks until compliance with filing requirements is achieved.

Nexera Energy Inc. (OTC PINK:EMBYF) announced a delay in filing its Q1 financial statements due to ongoing issues with the 2021 annual financial statements. The Company anticipates missing the May 30, 2022 filing deadline, with a revised filing date no later than June 13, 2022. Additionally, Nexera has applied for a Management Cease Trade Order with the Alberta Securities Commission, which could restrict trading for insiders but not for the general public. Despite this setback, the Company reported no other material business developments since its last financial statements.

Nexera Energy Inc. (OTC PINK: EMBYF) has issued a bi-weekly default status report due to delays in filing its annual financial statements for the period ended December 31, 2021. The Alberta Securities Commission granted a management cease trade order affecting trading by the CEO and CFO until the filings are completed. The company aims to file by May 30, 2022, and will continue to provide updates. There have been no additional material changes or defaults reported since the initial announcement.

Nexera Energy Inc. (OTC PINK: EMBYF) announced a delay in filing its annual financial statements for the year ended December 31, 2021, originally due by May 2, 2022. This delay is attributed to staffing issues with both current and previous auditors, with an expected filing date no later than July 1, 2022. The company has applied for a Management Cease Trade Order (MCTO) from the Alberta Securities Commission due to this anticipated default. While Nexera will issue bi-weekly updates under the Alternative Information Guidelines, no significant business developments have occurred since the last financial statements.

Nexera Energy Inc. (OTC:EMBYF) has appointed Crowe MacKay LLP as its new auditor, following the resignation of the previous auditors on March 28, 2022, at the request of the Audit Committee. There were no disagreements or unresolved issues with the former auditors. Nexera operates oil-producing properties in Southwest Texas, including the Lavernia, Wooden Horse, and Stockdale Horizon Projects, and recently acquired 100% ownership of Production Resources Inc.

Nexera Energy Inc. (OTC PINK: EMBYF) announced plans to drill a second deep horizontal well at its Stockdale Horizon project in South Texas, in partnership with Alliance Petroleum Interests. Preparations are complete, and drilling is expected to commence around November 12, 2021, targeting a depth of approximately 6,400 feet. Results from the first well have been promising, and this initiative reinforces Nexera's strategy to explore high-impact horizontal drilling in the region.

Nexera Energy Inc. (OTC PINK: EMBYF) reported positive production results from its Huebinger E1 well, averaging 26 barrels of oil per day over its first six weeks. Initial projections estimate first-year production at 8,700 barrels, with payback expected in approximately seven months. The Huebinger E2 well is also set to begin production soon. Additionally, the McGrew 1H well at Stockdale Horizon is now operational. The company has identified five new drilling locations based on recent successes.

Nexera Energy Inc. has provided an operational update amidst ongoing challenges from labor shortages in the oil and gas sector due to the Covid-19 pandemic. Despite these issues, Nexera has successfully brought the Huebinger E1 well online and is set to begin production at the McGrew 1H well soon. The company is also expanding its land position for future drilling at the Stockdale Horizon project. Additionally, Nexera has launched a new website to enhance its online presence.

Nexera Energy has announced the acquisition of a 25% interest in Production Resources Inc. from Hillcrest Investments Ltd. for USD$400,000. Following this deal, Nexera will own 100% of PRI, which operates wells producing 40-50 barrels of oil per day in Texas. The payment includes USD$100,000 in installments and 3,789,300 common shares at $0.10 each. This move increases Hillcrest's stake in Nexera from 2.6% to 9.08%, with insider control reaching 13.3% post-transaction, subject to final approval.