Metawells Oil & Gas Stock Price, News & Analysis

Metawells Oil & Gas Inc. (KOSK), formerly known as One Step Vending Corp., is an OTC Pink company that has shifted its business focus from vending and vertical farming activities toward the oil and gas sector. According to company announcements, the name change to Metawells Oil & Gas Inc. was effected in the State of Nevada as part of a broader transition into energy and fuels, with the stated intention to pursue acquisitions and projects in the oil and gas industry.

Business focus and strategic direction

Metawells describes itself as a company moving into one of the "strongest and most profitable industries of energy and fuels" and indicates that it has strategized acquisitions of vertically integrated assets in the oil sector. The company has reported working on legal aspects of upcoming acquisitions and production plans related to oil and gas. Management has also referred to forging strategic agreements with long-time businesses in the gas and oil industry as part of its change of business sector.

Before this transition, under the One Step Vending Corp. name, the company operated as a holding company focused on acquiring emerging business models. It emphasized marketing and distributing produce from vertically integrated farms and participating in the self-serve vending market, including vending machines designed to offer CBD and potential cannabis products. Historical disclosures mention ownership interests in entities involved in vertically integrated farms and produce distribution.

Oil and gas sector initiatives and combinations

In its oil and gas phase, Metawells has announced multiple corporate combination and merger initiatives. One set of announcements describes a Letter of Intent to begin a merger process with Global Oil & Gas Recovery Corp., a company focused on implementing Enhanced Oil Recovery (EOR) techniques for existing abandoned wells, maturing oil fields, and previously tapped reserves in the United States and Canada. Global Oil & Gas Recovery Corp. highlights a focus on methane emission mitigation through a Mobile / Methane Refining Unit (MRU) technology developed and patented by PEnG, which is intended to capture wasted methane gas from flaring, venting, and leaking wells and convert it into usable fuel.

Metawells has stated that bringing in a company with this technology would allow it to apply enhanced oil recovery techniques to existing abandoned wells in the United States. The company characterizes the use of such technology as a way to generate revenue from previously tapped reserves while also addressing environmental concerns related to methane emissions from so‑called "zombie wells".

More recent announcements describe a corporate combination agreement with South Plains Petroleum, Inc. South Plains Petroleum is presented as a company with multiple oil and gas properties in the Eastern Permian Basin of Texas and onshore Louisiana near the Gulf, with significant proved and probable reserves. Metawells has reported that the Board of Directors of South Plains Petroleum voted unanimously to accept a corporate combination agreement to reorganize and combine the two companies.

South Plains Petroleum properties (as described in releases)

Company communications about South Plains Petroleum describe an oilfield centered on the Swenson Ranch north of Abilene, Texas, where pay zones are less than 3,000 feet deep and have already produced millions of barrels of oil. In-house and third‑party estimates cited in these releases reference contiguous leases with producing, proved, and probable reserves measured in millions of barrels of oil recoverable and present value (PV10) estimates. Additional leases, including a contiguous Welch lease in the same oil field, are described as having further estimated recoverable barrels of oil and multiple development drill sites.

South of Abilene, the announcements refer to another proven field in a similar type of reservoir at comparable depths, with additional drill sites and reserves. The Louisiana properties associated with South Plains are described as deeper, high‑pressure wells with estimated recoverable natural gas measured in billions of cubic feet and additional barrels of oil, along with PV10 estimates. The combined conservative minimum value of these properties is stated in the releases as tens of millions of dollars.

South Plains’ by‑laws are described as containing an annual dividend provision that depends on commodity price thresholds for oil and gas, at which point a percentage of the price received is escrowed for dividends to shareholders. South Plains has also announced a 10% convertible bond offering to accredited investors, intended to fund development of oil producing properties in the eastern Permian Basin of Texas and a salt water disposal well in south Louisiana, with conversion terms into common stock of South Plains Petroleum, Inc.

Planned corporate structure and listing intentions

In connection with the combination with South Plains Petroleum, Metawells has disclosed a planned share exchange structure under which Metawells shares would be exchanged for South Plains shares at a 1.5 to 1 ratio. The same announcements state an intention for the combined company to seek an uplisting to NASDAQ, accompanied by a name change to South Plains Petroleum and a trading symbol change, subject to meeting NASDAQ’s minimum initial share price and other requirements. These items are presented in company communications as contemplated transaction terms rather than completed events.

Corporate evolution from One Step Vending Corp.

Historically, as One Step Vending Corp., the company described itself as a holding company focused on acquiring market‑changing and disruptive business models. It reported activities in the marketing and distribution of produce from vertically integrated farms, ownership of a majority stake in an entity associated with vertical farm systems, and operation of vending machines designed for CBD and potential cannabis products. It also disclosed joint venture arrangements under which a partner operated vertical farms while One Step Vending Corp. marketed and distributed the harvested produce, with revenue sharing arrangements between the parties.

Subsequent announcements detail the decision to change business sector to gas and oil, followed by steps to amend the Articles of Incorporation in Nevada to change the corporate name to Metawells Oil & Gas Inc., and to pursue corresponding processing with FINRA. The company has described this transition as aligning its identity and operations with the energy and fuels sector and has highlighted ongoing work on acquisitions and production planning in oil and gas.

Status considerations

Available public news does not include SEC filings or formal notices about delisting, deregistration, or completed mergers, and the company is described as trading on the OTC Pink market under the symbol KOSK. Company communications refer to planned or contemplated transactions, such as mergers and uplisting efforts, but do not in the provided materials confirm completion of these processes. Investors reviewing KOSK should therefore treat the descriptions of combinations, uplisting intentions, and future projects as statements of corporate plans or agreements as described in the respective press releases.