Woodlands, TX.,
Who is Screaming Eagle:
Screaming Eagle holds a 90% ownership interest in Screaming Eagle BNR JV, LLC. (the “JV”) formed in the year 2022 along with
Reserve Category | Net Oil Reserves Bbls1 | Net Gas Reserves Mcf2 | Future Net Income $ | Present Value on FNI3 disc@10% $ |
Proved Producing | 242,920 | 1,599,500 | 11,060,470 | 7,243,080 |
Proved Non-Producing | 298,730 | 2,508,850 | 17,306,490 | 10,792,280 |
Probable Undeveloped | 1,878,000 | 0 | 113,974,190 | 78,521,280 |
Total All Reserves | 2,419,650 | 4,108,350 | 142,341,150 | 96,556,640 |
1 Barrels
2 Million cubic feet
3 Future net income
Reserve Study of Assets Report
Latest YE & Q Financial Results:
During the year ended
The Transaction:
Through an all-stock transaction, the owners merged Screaming Eagle into BLFR in return for the issuance of 45,000,000 shares of Preferred Stock Series A and 810,000 shares of Preferred Stock Series B shares. Current CFO of Screaming Eagle,
New Direction:
Screaming Eagle’s Short-Term Plan
- Beginning during Q4 2023 Screaming Eagle will execute a three well horizontal side track drilling program on the
Bedias Creek asset and an eleven well clean out program on the Gin Creek Asset with 50% operating partner Exponent. - Screaming Eagle has over 200 drill sites identified on this property.
- Screaming Eagle has over 5 stacked pay zones on this property.
- Current wells were drilled on 700 acres spacing with only 40 acres being depleted in each well.
- The plan is to drill horizontal slim hole sidetracks in existing vertical well bores on wells with flat decline curves in producing zones.
- Expected Initial production of the first 6 wells is 800-1,200 bbls/day.
- Screaming Eagle expects to acquire an additional 1,800 bbls/day in Q4 2023 through the acquisition of another blue chip producing asset in
Texas with shale andAustin Chalk producing formations.
BLFR’s Short-Term Plan
- Engage a firm to plan and assist on working towards uplisting to the Nasdaq.
- Engage a PCAOB auditor to commence company audit.
- Cancel 18 million shares of the Company’s Outstanding Common Stock.
- Change the Company’s name and stock symbol suited for its new direction.
- Create an investor informative website for the Company.
- Engage a branding and marketing firm for the Company’s new direction upon the completion of the stock symbol and name change.
About
BLFR is specialized in emerging industries acquisitions with an emphasis in the business in the industrial space. BLFR is currently focused on its recent acquisition,
For more information visit: https://www.buffaloxxii.com
SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company’s expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange — including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will” and other similar expressions — are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company’s control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.
Company Contact:
Interim CEO, Chief Compliance and Investor Relations Officer, and Director of the Board
info@BLFR.info
Phone (786) 375-7281
Source:
2023 GlobeNewswire, Inc., source