NEXERA GAINS $775,000 OF OILFIELD SERVICES EQUIPMENT IN NON-DILUTIVE ACQUISITION
Nexera Energy Inc. (TSXV: NGY, OTC: EMBYF) (the “Company” or “Nexera”) an existing producer of oil and gas in South Texas is pleased to announce that it has purchased 100% of Cotulla Vacuum Services, Ltd. (“Cotulla”) a San Antonio, Texas based company with CAD $775,000 (USD $615,000) in oilfield service and environmental equipment to support its existing operations and new well plugging business, Nexera Energy Services Inc.
Nexera acquired 100% of the shares and assets of Cotulla for future consideration in a profit sharing agreement, where the company will receive 50% of profits, in excess of operational costs and maintenance which will be retained. The company has already begun using the equipment for its operations on two of its properties, including the Stockdale Horizon Property, where the company is diligently working to confirm results of the Stockdale Horizon H1 well. Nexera Energy Services will provide services to contiguous land owners and companies operating in South Texas in its expanding Energy Services business, focused on plugging inactive and orphaned oil and gas wells.
The acquisition gives the company expanded capability to transport its own equipment, at any time needed. Prior to the acquisition, the company relied on outside contractors for these services and their availability. It is expected this acquisition will make the company more efficient.
ABOUT NEXERA ENERGY INC.
Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is the owner and operator of the Lavernia, Wooden Horse, and Stockdale Horizon Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Hagco, Alliance, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.
For further information, please contact:Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000 Email: info@ebyinc.com www.nexeraenergy.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
