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American Noble Gas (OTC-QB: IFNY) has announced an option to purchase over 52,000 acres of oil and gas leasehold in the Central Kansas Uplift for $12 million. The properties currently produce 280 barrels of oil and 1.8 million cubic feet of natural gas daily, with helium content of up to 6%. Additionally, AMGAS has an option to acquire a related oilfield service company for $4 million. This transaction aligns with AMGAS's strategy to become a leading producer of noble gases, particularly helium amid global shortages.
American Noble Gas, Inc., previously known as Infinity Energy Resources, has refocused its strategic goals towards helium exploration in addition to traditional hydrocarbons after acquiring an 11,000-acre lease in Kansas. Shareholders have approved the name change and a stock symbol update to AMNG. The company aims to tap increasing global demand for noble gases, essential for technology and medical applications. Testing of the new properties has shown promising results, with plans for further evaluation and potential acquisitions to enhance capabilities.
Infinity Energy Resources, Inc. (OTCQB: IFNY) announced its common stock has been approved for quotation on the OTCQB Venture Market as of June 13, 2021. This milestone aims to enhance investor awareness, visibility, and trading liquidity. The OTCQB is recognized by the SEC and serves entrepreneurial and development stage companies. Infinity Energy primarily engages in oil and gas exploration, holding mineral rights on over 11,000 acres in the Central Kansas Uplift geological formation.
Infinity Energy Resources, Inc. (IFNY) announced a strategic agreement with the Tertiary Oil Recovery Program (TORP) at the University of Kansas for evaluating reserve potential on its recently acquired 11,000-acre oil and gas properties in the Kansas Central Uplift. TORP will assess enhanced recovery methods on the Reagan Sand Zone, which has produced 16 million barrels of oil and 180 billion cubic feet of natural gas. The partnership aims to optimize the evaluation and development of these properties, with rework scheduled to begin in May 2021.
Infinity Energy Resources, Inc. (IFNY) has completed the acquisition of a leasehold in Central Kansas covering approximately 11,000 acres for $900,000, funded through a recent $2.05 million stock offering. This leasehold includes existing production equipment and reserves, with 29,000 cumulative barrels of oil produced over the past three years. The company has initiated workover activities on producing wells and aims to drill at least four additional wells in the next year, contingent on financing availability.
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