HIHI - HOLIDAY ISLAND HOLDINGS INC. HAS ENTERED INTO AN AGREEMENT TO ACQUIRE OIL & GAS INTEREST ESTIMATED AT A $500000 RETURN
Holiday Island, Arkansas, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC Pink: HIHI) operating in the recreational, remote living real estate market and other commercial property in the geographic markets of Texas, Arkansas, Oklahoma, Missouri, and Louisiana, announced today that the Company has entered into an agreement to acquire Oil & Gas Interest for $150,000 in cash ($100,000) and stock ($50,000).
The Seller is a highly experienced oil and gas operator and a soon-to-be HIHI shareholder. He has agreed to sell us his interest in certain wells located in Northwest Louisiana and East Texas for $10O, 000 in cash and $50,000 in HIHI common stock.
These properties are estimated to generate $10,000 + per month in cash inflow to HIHI for 5 years, or approximately $500,000 in total. The deal is scheduled to close on or before September 30, 2022, subject to favorable due diligence.
The company has a commitment from a major shareholder and investor to provide the $100,000 in cash for the deal.
S. Gene Thompson, CEO and Director, said: “This is a great achievement for the Company and its Shareholders, with the expectation of getting our first significant commercial income producing on the books shortly assuming favorable due diligence. And, if it makes, the company adds another industry expert to its team."
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HIHI Contact :
Gene Thompson, CEO & Chairman
Phone: (479) 244-6047
Email: sgenethompson@gmail.com
Website: www.holidayislandholdings.com