Mondial Ventures, Inc. Signs Letter of Intent With Ben J. Taylor, Inc. to Employ a High Volume Staged Frac in Ward County, Te...
February 12 2014 - 7:45AM
Marketwired
Mondial Ventures, Inc. Signs Letter of Intent With Ben J. Taylor,
Inc. to Employ a High Volume Staged Frac in Ward County, Texas
SCOTTSDALE, AZ--(Marketwired - Feb 12, 2014) - Mondial Ventures
Inc. (OTCQB: MNVND) (the "Company") announced today it has signed a
Letter of Intent (referred as "LOI") with Ben J. Taylor, Inc.
(referred as "Taylor") to employ a high volume staged frac in Ward
County, Texas.
The LOI calls for the Company to join with Taylor in the
development of the Third Bone Springs and Wolfcamp formations in
the University 18-19A "No. 1" well at approximately 11,000 foot
depth, located in Ward County, Texas. Mondial and Taylor plan to
employ a high volume staged frac technique to develop the known
proven reserves in the two formations. Apache and EOG Resources,
Inc. have offsetting wells which have been very prolific in these
zones. The program will require the Company to raise an estimated
$1.2 million for Capital Expenditures related to the program. The
program would allow for the initial finance for the program to be
recaptured out of 100% of working interest revenues before a future
ongoing 50/50 split, based on approximately 75% net revenue
interests. The Definitive Agreement is subject to due diligence and
rig availability. The Company expects to start field operations
within 90 to 120 days.
About Ben J. Taylor, Inc.
Ben J. Taylor, Inc. is a Texas oil and gas operating company
founded by Ben J. Taylor who started in the oil business in 1927
and continued until 2000. The Texas Legislature passed a House
Concurrent Resolution No. 291 commending Ben J. Taylor for his
lifetime achievement in the petroleum industry and in particular
the development of Texas oil and gas resources. The company is
still family owned and operated.
About Mondial Ventures Inc.
Mondial Ventures, Inc. is Oil and Gas Producer engaged in the
acquisition of Oil and Gas properties and assets that can be
developed into revenue producing assets. The Company has put an
emphasis on acquiring existing Oil fields with proven reserves or
by the rehabilitation of oilfields with potentially high
throughput.
Safe Harbor
This release contains statements that constitute 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 appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of Mondial Ventures Inc., its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may," "would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond Mondial Ventures Inc.'s
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors. More information about the potential factors
that could affect the business and financial results is and will be
included in Mondial Ventures Inc.'s filings with the Securities and
Exchange Commission.
CAUTIONARY NOTE TO UNITED STATES INVESTORS
The United States Securities and Exchange Commission permits oil
and gas companies, in their filings with the SEC, to disclose only
proved reserves that a company has demonstrated by actual
production or conclusive formation tests to be economically and
legally producible under existing economic and operating
conditions. We use certain terms, such as prospective resource or
Original Oil in Place (OOIP) or Petroleum Initially In Place
(PIIP), that the SEC's guidelines strictly prohibit us from
including in filings with the SEC. U.S. Investors are urged to
consider closely the disclosure in our Form 10K.
Additional information may be found at the following web site:
http://www.sec.gov/divisions/corpfin/guidance/cfoilgasinterps.htm
Public Relations and Shareholder Information Joseph Vazquez
Phone: (754) 204-4549 Email: infinityglobalconsulting@gmail.com
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