PLANT CITY, Fla., April 25, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC:HIHI), pending name change to EP3OIL, Inc., as previously announced on February 20, 2024, HIHI entered into a Letter of Intent with Supeca Oil Trading USA, LLC wherein Supeca agreed to fully fund ($2,500,000) the acquisition and development of an oil field located in Central Texas known as the Drummond Oil Field.
As both parties continue to recognize the potential of the project and because Supeca needs more time to release the funds that they currently hold in the U.S., they now agree to put the project on hold with the intent to continue to work together on the Drummond and other oil acquisition and development projects in the United States.
Glenn Klinker – CEO and Chairman of EP3OIL – is quoted: "Although we are disappointed with the funding delay, ...