Holiday Island Holdings, Inc. Has Started Oil Production at Its Windy Point Well in Central Texas
Rhea-AI Summary
Holiday Island Holdings, Inc. (OTC: HIHI), soon to be EP3Oil, Inc., has commenced oil production at its Windy Point well in Central Texas. The company controls a 300-acre lease with potential for multiple wells and sits on a large proven oil reserve. CEO Glenn Klinker expects revenue generation within 30 days, marking a first in the company's history. HIHI is also nearing production on the neighboring Metcalf lease. With two oil-producing fields secured in Central Texas, the company plans further expansion. VP of Marketing Asencio highlighted 7 months of progress in oil recovery efforts and anticipates more advancements in the coming year. The company is also working on a name and symbol change, with news expected this month.
Positive
- Commencement of oil production at Windy Point well
- Control of 300-acre lease with large proven oil reserve
- Expected revenue generation within 30 days
- Secured two oil-producing fields in Central Texas
- Nearing production on neighboring Metcalf lease
- Plans for expansion to more oil fields
Negative
- None.
News Market Reaction
On the day this news was published, HIHI declined 22.86%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
PLANT CITY, Fla., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC: HIHI) (soon to be EP3Oil, Inc.) announced today that it has started pumping oil into production tanks at its Windy Point well located in Central Texas.
Windy Point is one of many wells to be developed on the 300-acre lease controlled by HIHI. Based on geological surveys, the company is sitting on a large proven oil reserve.
Glenn Klinker, CEO, is quoted: “We are very pleased with the progress at Windy Point, and we expect to be an ongoing revenue generating company within the next 30 days for the first time in its history. We are also close to realizing oil production on our neighboring Metcalf lease which we expect to be able to publicly disclose shortly. Now, EP3Oil has secured two (2) oil producing fields in Central Texas with plans to add many more.”
Mr. Asencio, VP of Marketing, is quoted: “We are very pleased with the progress during the last 7 months of our oil recovery efforts, and we visualize much more progress in the next year. In addition, the Company has been working diligently on its name and symbol change, and we expect to have positive news on that front this month.”
The Company will keep both its shareholders and public completely informed of the entire process as the details continue to develop. Please watch for press releases about the Company’s progress. For additional information, please visit the Company’s website at www.EP3OIL.COM.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Contact:
Glenn Klinker - CEO & Chairman
Phone: (702) 480-3215
Email: GLENN@EP3OIL.com
Website: www.EP3OIL.com
FAQ
When did Holiday Island Holdings (HIHI) start oil production at Windy Point well?
What is the size of the lease controlled by HIHI for oil production?
When does HIHI expect to generate revenue from its oil production?
How many oil-producing fields has HIHI secured in Central Texas?
Is Holiday Island Holdings (HIHI) planning to change its name and stock symbol?
