FRISCO, Tex., Nov. 09, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Scott Cox, CEO, Verde Bio Holdings, Inc. (OTCQB: VBHI) (www.verdebh.com) said today that “being in the oil and gas industry, we read a lot about what is happening in this worldwide sector. We wanted to share some of the analysts’ thinking in recent publications for our investors and potential shareholders.”
VBHI has revenue producing royalty interests in approximately 400 wells across the most active areas of the United States.
- Just last April, West Texas Intermediate Crude was trading in the high $30 range. Recently, U.S. black gold grade just topped $85 for the first time since 2014.
- Goldman is forecasting that the surge in gas prices (meet you at any pump!) could add one million barrels a day to oil demand.
- A Goldman analyst predicts that global oil demand will soon surpass its pre-COVID level.
- OPEC is adding output only gradually and worldwide stockpiles are steadily declining.
- Gasoline prices in the U.S. currently average $3.4 nationwide, already the highest gas prices since 2014. Analysts believe gasoline could top its all-time national average high of $4.1, set in 2008.
- Bank of America’s commodity analyst predicts a price of $120 per barrel of oil by June 2022.
- Analysts say environmentalists would like oil and gas companies to reduce production. But the world’s thirst for new supply is only growing. Some fear that without a significant uptick in investment, demand for gas will surpass supply.
“These analyst statements help to explain why Verde Bio Holdings is very bullish on oil and gas, on the process the Company has undertaken, and on the direction VBHI is headed,” Mr. Cox said. “The signs portend a continued increase in revenues for Verde Bio Holdings and its shareholders.”
About Verde Bio Holdings, Inc. Verde Bio Holdings, Inc. (OTC: VBHI) is a U.S. Energy Company based in Frisco, Texas, engaged in the acquisition and management of Mineral and Royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete software development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Contact:
Paul Knopick E & E Communications
pknopick@eandecommunications.com
940.262.3584
