Pure Oil & Gas Inc. Reports Significant Progress in Drilling Operations, Secures $6 Million in Latest Fundraising Round
Rhea-AI Summary
Pure Oil & Gas Inc., a subsidiary of Southern ITS International, Inc. (OTC PINK:SITS), has reported significant progress in its drilling operations and secured $6 million in fresh funding. The company currently manages 14 operating wells and has shown a substantial increase in production volumes over the past months:
- June: 175 barrels
- July: 514 barrels
- August: 675 barrels
- September (estimated): 1,980 barrels
Pure Oil & Gas plans to complete 5 additional wells by the end of 2024, which is expected to further boost production capacities. Jeremy Larsen, President of Pure Oil & Gas Inc., expressed optimism about the company's growth trajectory and its position for future success.
Positive
- Secured $6 million in fresh funding for drilling projects
- Significant increase in production volumes from 175 barrels in June to an estimated 1,980 barrels in September
- Plans to complete 5 additional wells by the end of 2024
- Currently managing 14 operating wells
Negative
- None.
News Market Reaction
On the day this news was published, SITS declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SCOTTSDALE, AZ / ACCESSWIRE / October 8, 2024 / Pure Oil & Gas Inc., a subsidiary of Southern ITS International, Inc. (OTC PINK:SITS), announces a series of achievements in its operational capabilities and production output. With 14 operating wells currently under management, the company has secured a substantial
Increased Production and Projected Growth
As of the latest reports, Pure Oil & Gas has demonstrated an upward trajectory in its production volumes over the past few months:
June: 175 barrels
July: 514 barrels
August: 675 barrels
September (estimated): 1,980 barrels
This marked increase reflects the company's enhanced operational efficiencies and strategic well placements.
Expansion of Drilling Operations
Pure Oil & Gas is set to expand its portfolio with the completion of 5 additional wells by the end of 2024. This expansion is expected to boost production capacities and reinforce the company's position in the market.
Executive Insight
Jeremy Larsen, President of Pure Oil & Gas Inc., expressed enthusiasm about the company's trajectory: "We are thrilled with the progress and results we've achieved this year. The successful deployment of capital towards strategic drilling operations has not only enhanced our production but also solidified the foundation for sustained growth. With the support of our dedicated team and the confidence of our investors, we are positioned to reach new heights in the coming months."
About Pure Oil & Gas Inc.
Pure Oil & Gas Inc. is a leader in the oil and gas industry, focusing on the acquisition, development, and optimization of oil and natural gas resources. The company aims to leverage technological advancements and strategic initiatives to maximize the production and efficiency of its operations across the United States. More information can be found on the following channels:
Pureoilgas.com
YouTube: @PUREOilGas
TikTok: @pureoilgas
About Southern ITS International, Inc.:
Southern ITS International, Inc. operates through its subsidiary companies across diverse sectors, each with a strategic focus, including oil and gas exploration, clothing, consumer beverages, and e-commerce fulfillment. Our goal is to expand and strengthen our portfolio of successful businesses.
As a holding company, Southern ITS International actively seeks opportunities to acquire stakes in both public and private companies that complement our current operations. Our mission revolves around establishing a robust Direct-to-Consumer (DTC) and Business-To-Business (B2B) network, leveraging the vast potential of e-commerce across various industries, such as manufacturing, distribution, and product sales.
To achieve our objectives, we have assembled a seasoned management team dedicated to building a diversified portfolio. This entails acquiring entire companies or interests in sectors spanning technology, oil and gas, manufacturing, real estate, and more, ultimately integrating them as operating subsidiaries under the Southern ITS International umbrella.
For investor inquiries, please contact:
Southern ITS International, Inc.
Gil Irey, CEO: 319-230-2399
Jeremy Larsen, COO: 319-239-6440
Email: info@sitsintl.com
Forward-Looking Statements
This 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, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the SEC. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.
SOURCE: Southern ITS International, Inc.
View the original press release on accesswire.com
FAQ
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