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Fortune Oil + Gas Announces Closing of Deal to Buy Cressent Energy

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Fortune Oil & Gas will conclude the deal to buy Cressent Energy from King Resources shortly.

After reopening the three dozen oil wells in Texas, Cressent is expecting to produce up to 200 barrels of oil per day by the year end. As the prices of oil are lingering approximately at $100 per barrel, the company is trying to pump around $20,000 worth of oil every day. Cressent has all the essential equipment to explore these shallow oil wells and also it need not expend extra funds to buy new machinery for exploiting those wells.

Louis Purvis, the CEO of Cressent will become the new chief executive officer of FOGC. Serge S. Acimovic, the present chief executive officer of Fortune Oil & Gas will become the COO.

The company will develop based on the restructuring of FOGC. The growth embraces the acquisition of a lithium mining business in Argentina. Cressent may influence its income -generating venture to expand the mining operations in FOGC.

Source: http://www.fortuneoilandgascorp.com/

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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