Wedgemount Resources Corp. , announces it has closed the second and final tranche of a non-brokered private placement announced March 28, 2023, by issuing 708,224 units at CAD$0.17 per Unit for gross proceeds of CAD$120,398 . Each Unit entitled the holder to receive one common share in the capital of the Company and one transferable Common Share purchase warrant . Each Warrant entitles the holder to acquire one Common [...]
Wedgemount Resources Corp. , is pleased to announce that it has closed its acquisition of certain West Texas, Permian Basin, oil and gas production assets know as the Willowbend assets . Having completed payments totalling US$1,500,000, Wedgemount, through its wholly owned Texas subsidiary Wedgemount Texas Corp. , has assumed a 100% working interest, operatorship and title to the Assets, subject to underlying royalties [...]
Wedgemount Resources Corp. , announces that it has closed its recently announced Millican light oil acquisition located in the Permian Basin of west central Texas, USA. The Company completed a payment to the arm's length vendor of USD$160,000 for a 100% working interest in the Assets, subject to a 19% underlying royalty. The vendor has relinquished operator status and has transferred title of the four oil and gas leases [...]
Wedgemount Resources Corp. , is pleased to announce that it has entered into a Purchase and Sale Agreement for the acquisition of additional oil and gas assets located in the prolific Permian Basin of west central Texas. The PSA is with an arm's length private company located in Texas, USA. Highlights: 2000 acres including 7 oil leases adjacent to current central Texas Permian Basin core area 8 producing wells and all [...]
Wedgemount Resources Corp. , is pleased to announce additional updated production results from the Willowbend light oil project, located in the Permian Basin of Central Texas . As of February 16, 2023, the five-day average Willowbend field production was 104 boepd, which represents a significant increase from the Q4 2022 average of 25 boepd. To date, three of eleven wells on the Project have undergone both well and [...]
Wedgemount Resources Corp. , announces that it has completed the second of three payments in connection with the acquisition of certain West Texas, Permian Basin, oil and gas production assets . The Company has made payments totalling US$750,000 and has one final payment of US$750,000 due on or before March 31, 2023. Upon completion of the third payment, the Company will assume operatorship of and take title to the [...]
Wedgemount Resources Corp. , is pleased to announce initial well production results from the Willowbend light oil project in the Permian Basin of central Texas. On January 23, 2023, three wells including the McBeth-2, McBeth-5 and Davis-3 underwent well and formation chemical treatments. Prior to the treatments, the three wells were flowing at a combined rate of 10 barrels of oil per day. Post treatment, the three wells [...]
Wedgemount Resources Corp. , is pleased to announce that it has commenced its phase-one field program on its recently acquired Willowbend light oil project located in the Permian Basin of central Texas. The initial program includes chemical clean-outs of both operating wells and the producing Gardner formation, optimization of surface facilities, and a study of historic bypassed pay zones. Chemical treatments on the [...]
Wedgemount Resources Corp. , is pleased to announce that Ms. Heidi Flaig has been retained as Senior Operations Manager for the Company's Permian Basin oil and gas assets located in west central Texas. Ms. Flaig and her firm, Petrosaurus Inc., will function as a turnkey technical and business service provider to the Company's US Subsidiary, Wedgemount Texas Corp. . Mark Vanry, President and CEO of Wedgemount, comments [...]
Wedgemount Resources Corp. , announces that it has completed the first of three payments in connection with the definitive agreement to acquire certain West Texas, Permian Basin, oil and gas production assets . The Company completed a payment to the arm's length vendors of US$250,000 with additional payments of US$500,000 and US$750,000 scheduled to meet closing conditions of the Transaction. On closing of the [...]
Wedgemount Resources Corp. , is pleased to announce that Mr. Richard Naden has been retained as a Senior Petroleum Advisor to the Company, to consult on matters related to oil and gas production, exploitation and enhanced recovery for the Company's Permian Basin focused US Subsidiary, Wedgemount Texas Corp. Mark Vanry, President and CEO of Wedgemount comments, "We couldn't be more pleased to have Richard join the [...]
Wedgemount Resources Corp. is pleased to announce it has closed the non-brokered private placement announced on December 19, 2022 by issuing 3,652,500 units at CAD$0.20 per Unit for gross proceeds of $730,500 . Each Unit entitles the holder to receive one common share in the capital of the Company and one transferable Common Share purchase warrant . Each Warrant entitles the holder to acquire one Common Share at CAD$0.30 [...]
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