Uptick Newswire’s Stock Day Podcast Features Marksmen Energy Inc.’s CEO to Discuss Their Pioneering Ohio Project Featuring a Horizontal Well Setup
CALGARY, ALBERTA / ACCESSWIRE / November 29, 2018 / Uptick Newswire features, Marksmen Energy Inc. (OTCQB: MKSEF; TSXV: MAH) (The Company), an emerging energy company with an initial focus on exploring and developing light oil assets in Ohio, on their Stock Day Podcast. Archie Nesbitt, CEO and Director talked with host Everett Jolly about their efforts.
Jolly started off by welcoming Nesbitt back to Stock Day and mentioned it had been quite a while. Nesbitt explained the company has seen a few delays, but with the expertise now put in place they are about to turn a corner.
"We are looking forward to an exciting rebound by the end of the year," explained Nesbitt.
Jolly then asked Nesbitt about their new pioneering horizontal well. Nesbitt said they are drilling in a formation that has had no previous horizontal drilling setup.
"It's the most prolific producer of beautiful, light Pennsylvania crude, 42 API oil in the state of Ohio," he said. "It's a tremendous reserve where the 50-70 thousand old vertical wells got 3-5 percent of the oil. This was picked up by two of the significant oil companies and they started working on this a couple of years ago when we did and we are the only publicly traded company. The consensus of opinion is a horizontal well will produce 12 to 15 times the amount of oil a vertical well would produce."
Nesbitt says they have everything in place, with these experimental wells, to tap an extensive oil reserve. He says it's a spectacular opportunity and they will launch their drilling program in about 8 weeks.
Jolly then turned the conversation to private placement, saying that Marksmen has raised anywhere from $280,000 to $375,000. He asked what will be done with the money. Nesbitt explained the current drilling project has had extra expenditures and although they are cash flow positive, they elected to go to market and play to the over expenditures and had an oversubscribed private placement.
"The company is cash flow positive, but we want to keep it strong and we want to be able to pay our bills as they come due and not out of our future cash flow," said Nesbitt.
Jolly mentioned that December is approaching and wondered if the Marksmen team is concerned about drilling this time of year.
"No, we are ready to launch this," said Nesbitt. "In this game, you work 24/7, holidays and time off, you take that when you can grab it, but we are ready to launch this. We bring this well on production next month. We expect to have information on the well within 10 days."
Nesbitt said he wants the investors to know that his company has the best American engineering and geology team in Ohio that's in this program.
"It represents a fabulous investment opportunity for investors in a junior company that's going to build itself very quickly into a significant oil and gas producer," he said.
To hear the entire interview with Stock Day, listen here. https://upticknewswire.com/featured-interview-ceo-archie-nesbitt-of-marksmen-energy-inc-otcqb-mksef-3/
About Marksmen Energy Inc.
Marksmen is an emerging energy company with an initial focus on exploring and developing light oil assets in Ohio. We are bringing modern exploration technology to under-explored areas which have had significant historic oil production and which have not seen any concentrated industry activity for decades.
Marksmen's management team has extensive experience in the profitable development of old oil fields in Ohio and the identification of previously overlooked resource opportunities. Marksmen Energy plans to be an industry leader in Ohio.
For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release, or the documents referenced may contain certain forward-looking information including without limitation the Company's drilling and operational plans and the timing thereof. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen's disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.
About Uptick Newswire and the "Stock Day" Podcast
Founded in 2013, Uptick Newswire is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Uptick provides companies with customized solutions to their news distribution in both national and international media outlets. Uptick is the sole producer of its "Stock Day" Podcast, which is the number one radio show of its kind in America. The Uptick Network "Stock Day" Podcast is an extension of Uptick Newswire, which recently launched its Video Interview Studio located in Phoenix, Arizona.
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