NMEX Updates Recent Activities
QUITMAN, Texas, Jan. 23, 2018 (GLOBE NEWSWIRE) — Northern Minerals & Exploration Ltd. (Stock Symbol: NMEX) is pleased to make the following announcements:
NMEX Files 10Q
On January 12, 2018, NMEX filed a Quarterly Report on Form 10-Q with the Securities and Exchange Commission for the period ended October 31, 2016. NMEX is now in the process of completing its July 31, 2017 year-end audit, and is working to complete all outstanding SEC filings. Management aims to restore routine public disclosure and will notify shareholders of significant progress until NMEX’s SEC filings are up to date.
NMEX Creates Kathis Energy LLC
NMEX created a 100% wholly owned subsidiary, Kathis Energy LLC, which is establishing operations in West & South Texas. The Kathis team has been assembled to identify and exploit oil & gas fields which were not fully developed, and existing wells which were plugged prematurely, leaving significant primary recoverable reserves behind. Kathis and NMEX have identified more than 30 drill locations of merit and will seek financing of $35,000,000 for a 2018 exploration campaign.
The following is a summary of the professional men that have joined Kathis. For more information on the following men go the Kathis website: www.kathisenergy.com
Mark C. Seitz, B.Sc., PE – Director of Operations – As an engineering manager, Mark has experience in all facets of the petroleum industry including managing, supervising, engineering, drilling and production. Mark holds a Bachelor of Science degree in Petroleum Engineering from the Colorado School of Mines. Mark has prepared, implemented, and audited Quality Assurance and Quality Control Standards, and has been recognized for upgrading HSE standards. He has vast experience in international endeavors where he developed strategies to train and utilize national staff at all levels.
Anil Kumar, Ph.D., PE – Director of Reservoir Engineering, has a legacy of extensive and top-tier knowledge in reservoir and petroleum engineering, deep water development, and consulting spanning over 40+ years. He holds a Ph.D. in Petroleum Engineering from Stanford University and pioneered the pressure derivative approach which is a leading technology platform in transient well interpretation. Dr. Kumar was Instrumental in the initiation and creation of New Mexico Petroleum Recovery Research Center and currently holds tenure as chairman and professor at the New Mexico Institute of Mining and Technology
Wayne Bagan, B.Sc., Geologist & Geophysicist, has global experience in prospect generation and development. Farm-ins and farm-outs, domestic and international discoveries, with three world-class finds over 200 MMBOE potential each. Wayne has produced numerous exploratory prospects covering the Cisco, Wolfcamp Strawn and Canyon formations, some with multiple zones. Wayne has consulted with a Midland exploration operator and participated in multiple 3D seismic acquisition programs, ranging from three to thirty-four square miles.
Jim Webster, B.Sc., Petroleum Geologist, has been generating and selling oil and gas drilling prospects to individuals and mid-size oil operators as well as to major oil companies for more than 40 years. He is a graduate from Hardin Simmons University of Abilene, Texas with a Bachelor of Science Degree in Geology, with a niche area of interest for generating drilling prospects within a 200-mile radius of Abilene. Before he worked for himself he was with LaJet Petroleum of Abilene from 1980 to 1986 generating drilling prospects.
Ivan Webb, Vice President, stated, “We are very pleased with the progress NMEX and especially excited about the launch of Kathis Energy, LLC. I believe Kathis’ asset-recovery strategy will result in a year of building significant cash flow as well as strong oil reserves.”
Contact: Ivan Webb
Forward Looking Statements: Statements which are not historical facts contained in this release are forward looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, the results of business and exploration strategies, or changes in consumers’ preferences and trends. The words “estimate,” “possible,” “seek”, “aim” and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements. The information herein is subject to change without notice. Northern Minerals & Exploration Ltd. shall not be liable for technical or editorial errors or omissions contained herein.