Company to Discuss its Option to Purchase Current Production and Leasehold Rights for 11,000 Acres
LOS ANGELES, CA, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Infinity Energy Resources Inc. (Pink Sheets: IFNY), an independent oil and gas exploration and development company, today announced that it will be presenting at the 12th annual LD Micro Main Event on Wednesday, December 11 at 12:20 AM/PM PST / 9:20 AM/PM EST. John Loeffelbein (COO of Infinity Energy Resources Inc.) will be presenting and meeting with investors.
Infinity Energy Resources, Inc. (“Infinity”) will present information regarding its recently acquired option from Core Energy, LLC, a closely held company (“Core”), to purchase the production and mineral rights/leasehold for oil & gas properties in the Central Kansas Uplift geological formation covering over 11,000 contiguous acres (the “Properties”). The purchase option gives the Company the right to acquire the Properties for $2.5 million prior to December 31, 2019.
The purchase will include the existing production equipment, infrastructure and ownership of 11 square miles of existing 3-D seismic data on the acreage. The Properties include a horizontal producing well, horizontal saltwater injection well, a conventional saltwater disposal well and two conventional vertical producing wells, which currently produce from the Reagan Sand zone with an approximate depth of 3,600 feet.
Infinity intends to complete the acquisition prior to the end of calendar year 2019, subject to obtaining adequate financing. Infinity intends to drill at least six conventional production wells within the 12 months following the closing of the acquisition, subject to obtaining sufficient financing. The Company will provide prospective partners, industry operators and investors with a presentation of the most recent geological interpretation and all and contractual aspects related to the approximate 11,000-acre project.
"This year’s Main Event is our largest event to date, with 275 companies set to present and meet with investors” stated Chris Lahiji, President of LD Micro. “Even though LD has emerged as one of the largest and most influential organizations in the space, our focus has never deviated from showcasing some of the more interesting businesses in the world to our ever-growing community. Investor interest in our events has also never been stronger, and that goes for our commitment to philanthropy as well."
The LD Micro Main Event will take place on December 10th-12th in Los Angeles, at the Luxe Sunset Bel Air Hotel, which will feature 275 companies, and will be attended by over 1,400 individuals.
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About Infinity Energy Resources, Inc.
Infinity Energy Resources, Inc. had been involved in oil and gas exploration, development and production of natural gas and oil in Texas and the Rocky Mountain region of the United States as well as an oil field service company located in Eastern Kansas, Northern Oklahoma, Colorado and Wyoming prior to December 2012. Infinity is headquartered in Overland Park, Kansas and its common stock is listed on the Pink Sheets under the symbol "IFNY.PK". The Company's financial statements and additional information are available on the Internet at www.otcmarkets.com
About LD Micro
LD Micro was founded in 2006 with the sole purpose of being an independent resource in the microcap space.
What started out as a newsletter highlighting unique companies has transformed into several influential events annually (Invitational, Summit, and Main Event).
In 2015, LDM launched the first pure microcap index (the LDMi) to exclusively provide intraday information on the entire sector. LD will continue to provide valuable tools for the benefit of everyone in the small and micro-cap universe.
For those interested in attending, please contact David Scher at david@ldmicro.com or visit www.ldmicro.com for more information.
Contact:
Name: John Loeffelbein, Chief Operating Officer
Phone: 913.804.5870
Source: Infinity Energy Resources Inc. via LD Micro