(TheNewswire)
Vancouver, B.C. - TheNewswire- June 22, 2022 - G2 Energy Corp. (CSE:GTOO ) , (CNSX:GTOO.CN), ( OTC:GTGEF ) , ( FWB:1NZ.F) (the “ Company ” or “ G2 ”) is pleased to provide an operation update on its wholly ownedMasten Unit (“ Masten ”). For greater clarity, while theMasten Unit transaction was closed in the month of June 2022, all cashflow since the effective date of April 1, 2022 belongs to G2.
Slawomir (Slawek) Smulewicz, President and CEOcommented:
“ We are verypleased with the immediate cash flow that the Masten Unit is providingG2. The Masten transaction would be the first of many accretivetransactions that G2 will be making in the near future.”
During the month of April 2022, Masten produced 1,711BBLs of oil, earning US$176,018* of revenue (average realized price ofUS$102.87/BBL) and 3,049 MCF of gas, earning US$16,663* of revenue(average realized price of US$5.46/MCF). Total revenue was US$192,683 . The severance taxes and operational costs were US$44,681,resulting a net income ofUS$148,002 for G2.
May 2022’s financial figures would be available nearthe end of June 2022. Management expects the monthly net income forMay 2022 would be similar to April 2022.
*production and revenue presentedare net of royalties.
On Behalf of the Board,
“ SlawekSmulewicz ”
Slawek Smulewicz
President & CEO
O: +1 778 7754985
E: slawek@g2.energy
W: WWW.G2.ENERGY
About G2 EnergyCorp.
G2 Energy Corp. is a Canadian Securities Exchangelisted company focused on acquiring and developing overlooked,low-risk, high return opportunities in the oil and gas sector. G2 isseeking to acquire a portfolio of risk-managed production anddevelopment opportunities onshore, in the U.S.A. In the near term, G2is pursuing production acquisition opportunities with top-tieroperating netbacks and infrastructure facilities to fast-track futureproduction growth.
The Canadian Securities Exchange hasneither approved nor disapproved the information containedherein.
Forward Looking StatementsCaution
Statements in this press releaseregarding the Company which are not historical facts are“forward-looking statements” that involve risks and uncertainties.Such information can generally be identified by the use offorwarding-looking wording such as “may”, “expect”,“estimate”, “anticipate”, “intend”, “believe” and“continue” or the negative thereof or similar variations. Sinceforward-looking statements address future events and conditions, bytheir very nature, they involve inherent risks and uncertainties. The Company providesforward-looking statements for the purpose of conveying informationabout current expectations and plans relating to the future,including expectations forthe effects of the change of business of G2 to oil andgas, and readers arecautioned that such statements may not be appropriate for otherpurposes. By its nature, this information is subject to inherent risksand uncertainties that may be general or specific and which give riseto the possibility that expectations, forecasts, predictions,projections or conclusions may not prove to be accurate, thatassumptions may not be correct and that objectives, strategic goalsand priorities may not be achieved. These risks and uncertaintiesinclude but are not limited those identified and reported in theCompany’s public filings under the Company’s SEDAR profile atwww.sedar.com. Statementsrelating to “reserves” are also deemed to be forward-lookingstatements, as they involve the implied assessment, based on certainestimates and assumptions, that the reserves described exist in thequantities predicted or estimated and that the reserves can beprofitably produced in the future. Actual results could differ materiallyfrom those currently anticipated due to factors such as: the performance of wells, the availabilityand performance of facilities and pipelines, the geologicalcharacteristics of G2's properties, prevailing weather and break-upconditions, commodity prices, price volatility, price differentialsand the actual prices received for the Company’s products, royaltyregimes and exchange rates, the application of regulatory andlicensing requirements, the availability of capital, labour andservices, the creditworthiness of industry partners, and G2’sability to acquire additional assets. Although the Company has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults not to be as anticipated, estimated or intended. There can beno assurance that such information will prove to be accurate as actualresults and future events could differ materially.
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