PLANT CITY, Fla., April 25, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC: HIHI), pending name change to EP3OIL, Inc., as previously announced on February 20, 2024, HIHI entered into a Letter of Intent with Supeca Oil Trading USA, LLC wherein Supeca agreed to fully fund ($2,500,000) the acquisition and development of an oil field located in Central Texas known as the Drummond Oil Field.
As both parties continue to recognize the potential of the project and because Supeca needs more time to release the funds that they currently hold in the U.S., they now agree to put the project on hold with the intent to continue to work together on the Drummond and other oil acquisition and development projects in the United States.
Glenn Klinker – CEO and Chairman of EP3OIL – is quoted: “Although we are disappointed with the funding delay, we are pleased to have the opportunity to continue to partner with such an experienced and reputable international oil company.”
“This gives us the opportunity to focus on our other oil production projects with huge potential returns, particularly Windy Point, which is scheduled to come online in the next 60 to 90 days.”
Alverico Ascencio, Vice President and Marketing Director for Latin America, is quoted: “As I previously indicated, EP3OIL is very excited to be working with such a knowledgeable and experienced oil company that we expect to be the first of many partnership projects.”
Holiday Island Holdings, Inc., pending name change EP3OIL, Inc., is committed to keeping both shareholders and the public informed on all of our opportunities and developments. Please visit www.EP3OIL.com for more information.
Forward-Looking Statements Disclaimer:
This press release contains 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. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
HIHI Contact:
Glenn Klinker, CEO & Chairman
Phone: (702)-480-3215
Email: Glenn@EP3Oil.com
Website: www.EP3OIL.com
