Nexera Energy Inc Stock Price, News & Analysis

Nexera Energy Inc. (OTC PINK:EMBYF) has successfully closed its private placement, issuing 13,333,330 units at $0.06 each, totaling $800,000. Each unit comprises one common share and one warrant, which allows the purchase of an additional share at $0.10 within 12 months. Proceeds will support operational activities, including mineral lease acquisitions and equipment purchases. All securities are subject to a 4-month hold period and await final approval from the TSX Venture Exchange.

Nexera Energy Inc. (OTC PINK: EMBYF) has acquired 100% of Cotulla Vacuum Services for CAD $775,000 (USD $615,000) to bolster its oilfield services and new well plugging business. This acquisition includes a profit-sharing agreement, allowing Nexera to retain 50% of profits above operational costs. The newly acquired equipment is already in use on two properties, enhancing efficiency by reducing reliance on outside contractors. The move is aimed at expanding Nexera's capabilities in providing services for inactive oil and gas wells in South Texas.

Nexera Energy Inc. (OTC PINK:EMBYF) announced plans to create a wholly owned subsidiary, Nexera Energy Services, Inc., to plug inactive oil wells in Texas. The company has the necessary equipment and expertise to address orphaned wells and aims to start by plugging three inactive wells on its leases. Plugging costs range from $8,000 to $140,000 per well, and Nexera expects to generate significant profit margins. CEO Shelby Beattie emphasized the company's commitment to land reclamation, which will create new revenue streams while supporting local communities.

Nexera Energy (OTC PINK: EMBYF) announced it will perforate and test the Poth sand formation at the Lerma #2 well, part of its Stockdale Horizon project in South Texas. This well is in close proximity to the recently drilled Stockdale Horizon 1H well, which showed promising hydrocarbons while drilling. The company aims to confirm the productivity of the Poth formation, potentially establishing a new play at Stockdale. Nexera operates 540 oil wells and is focused on resource expansion in the region.

Nexera Energy Inc. (OTC PINK:EMBYF) announced its recent discovery at the Stockdale Horizon property where the Stockdale Horizon 1H well is flowing back over 1 million cubic feet of gas per day at approximately 1,500 psi. The company is identifying additional drilling locations, benefiting from a non-dilutive financing agreement with Alliance Petroleum Interests. Nexera operates in the continental U.S. and enjoys a premium to WTI oil prices, backed by a strong distribution network. A recent private placement will support ongoing operations and resource expansion.

Nexera Energy Inc. (OTC PINK: EMBYF) announced a joint venture with Alliance Petroleum to drill the Huebinger E1 well on its Huebinger lease in South Texas. This marks the company's first drilling operation on the lease. Additionally, Nexera reported that the Stockdale Horizon well #1H has been spudded. Nexera operates various oil projects in Southwest Texas, including the Lavernia and Wooden Horse.

Nexera Energy Inc. (OTC: EMYBF) has mobilized the Unision #5 drilling rig to its Stockdale Horizon prospect, marking the commencement of drilling for a deep horizontal well in the Austin Chalk formation. The well will reach a total depth of approximately 6,600 feet, targeting hydrocarbon-rich zones at 5,000 feet. This venture is noteworthy as only 320 wells are currently being drilled in the U.S., down from over 800 last year, indicating a significant slow down in drilling activities.

Nexera Energy Inc. (OTC:EMBYF) has increased its ownership in the Huebinger and Kuhn leases from 50% to 72.23% at the Wooden Horse project in South Texas. This project includes producing wells and new drilling locations on the 200-acre Huebinger lease. The company operates various oil projects in Southwest Texas, including Lavernia and Nash Creek. This acquisition may enhance Nexera's production capacity and overall asset base.

Nexera Energy Inc. (TSX Venture:NGY) announces a delay in filing its unaudited interim financial statements for Q2 2020 due to Covid-19 related issues. The Company will utilize a 45-day extension granted by the Canadian Securities Administrators, with filings expected by October 15, 2020. No material business developments have occurred since the last financial statements. Management and insiders are under an insider trading black-out until the interim filings are disclosed.