(TheNewswire)
Vancouver, British Columbia – TheNewswire - June 12, 2023 - G2 Energy Corp. (CSE:GTOO ) , ( FWB:UD9) ( the " Company " or" G2 ") is pleased toannounce that has initiated an application process to the TexasRailroad Commission to become the operator of itscornerstone-producing asset, the Masten Unit in Cochran county, Texas.
G2 has assembled an experienced operating team of localoil industry professionals that can advance the Masten Unit in a safeand efficient manner under the direction of G2’s Chief OperatingOfficer, David Whitby. G2 is expecting to become the Operator ofRecords, as defined by the Texas Railroad Commission, in a few weeksperiod, and is gearing up for the transition to startimmediately.
Slawek Smulewicz stated: “It is a milestone for any company inthe energy sector to become its own operator. As the operator, G2 willnow be able to closely monitor all aspects of field operations, reducecosts and increase near-term production. Our first priority will be toinitiate a low-cost work-over program on 6 of our existing wellsfollowing our capital raise. We anticipate a substantial increase inboth our production and the resultant cash flow within 90days.” .
On Behalf of the Board,
“ SlawekSmulewicz ”
Slawek Smulewicz
CEO
For further information, please contact:
John Costigan
VP Corporate Development
O: +1 604 6208589
E: jcostigan@g2.energy
W: WWW.G2.ENERGY
About G2 EnergyCorp.
G2 is a junior oil and gas producer listed on the CSEexchange. It's primary focus is to acquire and develop additionaloverlooked, low risk, high return opportunities in the oil and gassector. G2's strategy is to obtain a portfolio of risk-managedproduction and development opportunities onshore, U.S.A. In May 2022,G2 acquired the Masten Unit in the Permian Basin, Texas. The MastenUnit is the Company's first producing asset. G2 is targeting top tierprojects with operating netbacks and infrastructure facilities whichwill fast track overall oil and gas production 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. TheCompany provides forward-looking statements for the purpose ofconveying information about current expectations and plans relating tothe future, including expectations regarding the Company's ability tomeet its outstanding obligations, and readers are cautioned that suchstatements may not be appropriate for other purposes. By its nature,this information is subject to inherent risks and uncertainties thatmay be general or specific and which give rise to the possibility thatexpectations, forecasts, predictions, projections or conclusions maynot prove to be accurate, that assumptions may not be correct and thatobjectives, strategic goals and priorities may not be achieved. Theserisks and uncertainties include but are not limited to thoseidentified and reported in the Company’s public filings under theCompany’s SEDAR profile at www.sedar.com. The Company's ability tomeet its outstanding obligations could differ materially from thosecurrently anticipated due to factors such as: the performance offacilities and pipelines, commodity prices, price volatility, pricedifferentials and the actual prices received for the Company’sproducts, royalty regimes and exchange rates, the availability ofcapital, labour and services,the creditworthiness of industry partners, G2’s ability to acquireadditional assets, unexpectedincreases in operating costs, and risks associated with potentialfuture lawsuits and regulatory actions made against the Companyincluding but not limited to being found in default of the Company'sobligations to Cloudbreak. 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.
Copyright (c) 2023 TheNewswire - All rights reserved.