NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- JP 3E Holdings, Inc. (“JP3E”) formerly known as Spooz, Inc. (OTC: SPZI), provides an update on the execution of a legally binding Memorandum of Understanding (“MOU") with Kerogen Resources, LLC to form Kerogen Resources II, LLC as a subsidiary, majority owned by JP3E, for the purpose of developing unconventional onshore U.S. shale assets. A $330,000,000 cash commitment to Kerogen Resources, LLC through a Joint Venture agreement with Öztürk Holding, LLC for Smart Park Development in Clearfield, Pennsylvania. Upon the commencement of drilling, producing, and manufacturing, 50% of the sales proceeds will belong to JP3E.
Öztürk Holding, LLC ranks 18th among the world’s biggest 250 contractors. Öztürk Holding, founded in 1989, stands out in many sectors, especially the construction sector, with its commitment to quality standards in the services it offers, the importance it attaches to customer satisfaction and constantly developing technology. They operate in the fields of Energy, Petroleum, Mining, Finance and Defense Industry. It continues to grow with its companies and partnerships in 56 countries with over 1100 sectoral and mega projects. https://www.xn--zh-eka.com/
Kerogen Resources, LLC, is a private exploration and production company, bringing to the partnership extensive experience and knowledge for the development of conventional and unconventional oil and natural gas assets. https://kerogenresources.com/
The transaction and dissemination of funds will occur through our new trade finance solutions, developed in partnership with Bloxcross. This uniquely efficacious block chain, proprietary platform enables faster, more efficient, and secure global transactions, offering transparency and precision in trade finance, and positions JP3E as a leader in the commodities market.
Mark Thompson, CEO/Chairman of Kerogen Resources, LLC, commented, "This partnership with JP3E is finally upon us to a level of completion that will greatly bring benefits to both companies. We will leverage JP3E's resources and network to further expand the growth and operational footprint to inject significant value for our shareholders."
John K. Park, Chairman and President of JP3E, stated, "Our partnership with Kerogen Resources highlights our commitment to diversify and strengthen our portfolio in the energy sector. We are excited about the synergies this partnership brings."
Diego Baez, CEO of JP3E and Bloxcross, stated, “I am honored that our uniquely suitable trade finance solution facility will be employed to process these extremely profitable transactions for the benefit of all parties.”
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For additional information on the Global Trade Financing Platform via Bloxcross, Inc., reach out to sgallegos@bloxcross.com.
About JP 3E Holdings, Inc.:
JP3E is a global leader in commodity trading, known for its innovative approach to optimizing trade processes and solutions across numerous sectors. With a commitment to sustainability and market leadership, JP3E continues to drive new trends and solutions in global commodity markets.
About Bloxcross, Inc.:
Bloxcross is at the forefront of financial technology, specializing in blockchain-based solutions for cross-border payments and trade finance. Dedicated to streamlining global financial transactions, Bloxcross provides secure, fast, and cost-effective services to clients worldwide. To learn more about their groundbreaking solutions, visit https://www.blox.global/
About Kerogen Resources, LLC:
Kerogen Resources is a private exploration and production company with offices in Clearfield County, Pennsylvania. Our team has decades of industry-leading experience and is dedicated to creating value that makes a difference. Kerogen Resources has fostered a culture of a dedicated and technically advanced team of professionals who are hard-working and committed to excellence. Today, several of the company’s members are owners of mature-producing properties and a FERC pipeline system in Central Pennsylvania. Our goal is to return value to our partners through cost-efficient operations utilizing best-in-class environmental and safety procedures. Our strategy is to identify high-quality mature producing assets and employ operational improvements and effective techniques around enhanced recovery programs. Identification and evaluation of acquisition candidates are ongoing activities.
About Öztürk Holding, LLC
Öztürk Holding, whose foundations were laid in 1989 and gained its corporate identity in 1995, is one of the world's leading companies operating in 6 important sectors and achieving great success since the day it was founded. Our commitment to quality standards in the services we offer in Turkey and the world. We stand out in providing the best service in the sectors we operate with quality workmanship, reliability and environmentally friendly practices and in providing the best service to our customers with constantly developing technology.
Company Contact:
John K. Park, Chairman
john.park@jp3eholdings.com
732-241-0598 Office
Websites: https://www.jp3e.com/
https://www.jp3eholdings.com/
Twitter: http://www.twitter.com/SpoozInc
Facebook: http://www.Facebook.com/SpoozInc
E-Mail: info@jp3e.com
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). The Companies caution that statements, and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, and estimates made by management. Actual results could differ materially from current projections or implied results. The Companies undertake no obligation to revise these statements following the date of this news release.
