Renovering af Ritchie Waterflood Unit – opdateret d.29-3-20

29. marts 2020: Renovering af Ritchie Waterflood Unit – opdateret d.29-3-20

29-3-20 - Arbejdet er påbegyndt

Hi All

I will send you a weekly update every Saturday and let you know how we are coming along so you can keep your investors up to speed.

We didn’t get much work done this week mostly just lining everybody out. We had the electrical boys out and showed them all the issues. They were able to repair the electrical panel for the #7 well so it is ready to run when we get the well head piping repaired. They are coming back next week with some special equipment to find the main electric line problem. This line feeds the power to the #9 and #10 wells. Hopefully that doesn’t turn into a major ordeal.

We had the fiberglass repair guys out. There are three places that the fiberglass piping is broken and needs to be fixed including the well head piping around the #7 well head. They plan on coming Monday or Tuesday to make the repairs.

I lined out the roustabout crew yesterday on all the work we have to do around the tank battery area. They will be back next Wednesday to start all their work. I estimate it will take them about a week to get everything done.

Also, had the dozer guy out. He will fix the area behind the tank battery so it won’t flood the whole area every times it rains.

Lastly, I am a little concerned about what the Coronavirus might do to us. They are getting more and more adamant about people not leaving their houses unless it is an emergency.

Gary

17-3-20

Gary har modtaget den først sum penge som vi har sendt over til ham, han forventer at kunne start først næste uge, området har fået en del regn, som vi kender alt for god til, men moder natur styr vi ikke. Så planen er at påbegynde arbejdet FÅ kilderne i produktion samt lavet alt andet ude på felterne, når vi så når dertil så skal vi kigge godt på olieprisen som p.t ligger på ca. 24 USD for en tønde, hvid dette niveau fortsætter vil en mulighed være at lukke kilderne midlertidigt og vente på bedre priser, ingen grund til at sælge vores varer for ingen penge. mere om dette når kilderne er i produktion, og vi ved hvordan markedets er på dette tidspunk, tingene ændre sig lynhurtigt i disse tider.

Mvh. TEX OIL COMPANY

16-3-20

Vi har d.d. sendt knap $35.000.- over til G&F Oil inc. som er blevet indbetalt af medejerne i projektet, dette betyder at renoveringsarbejdet kan påbegyndes i denne uge, og så regner vi med de sidste kunder for indbetalt snarest muligt samt indsendt deres dokumenter. Der i sidste uge sendt en påmindelse ud vedr. dette.

Mvh, TEX OIL COMPANY