Orion Diversified Holding Co Inc. Announces Pink Current Information Status with OTC Markets, Creation of a New Subsidiary, LOI for a Producing Oil and Gas Property in the Permian Basin
CARSON CITY, NV / ACCESSWIRE / October 6, 2021 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) ("OODH" or the "Company") is pleased to announce that it has updated and filed all of the necessary paperwork and disclosure filings with the OTC Markets in order to achieve Pink Current Information status.
The Company has also created a new wholly owned subsidiary, Orion Energen Inc.
Orion Energen, a Texas Corporation, will be responsible for acquiring and maintaining producing oil and gas properties in the Permian Basin of West Texas. Orion Energen has signed a Letter of Intent to acquire four producing oil and gas wells in Pecos County Texas currently averaging 14 BOEPD on 160 acres. Orion Energen is currently performing due diligence on this property while waiting on permits and licenses to operate oil wells from the Railroad Commission of Texas.
"Orion Energen is currently negotiating on four more producing oil and gas properties in the Permian Basin of West Texas," comments Mr. Lull. "My goal is for OODH to consistently grow by acquiring producing oil and gas properties that have infill development drilling potential," further commented Mr. Lull.
Thomas Lull is a oil and gas industry veteran, and has been involved in every aspect of the oil and gas industry for the past 20 years. Between 2009 and 2019 Mr. Lull owned and sold 43 oil wells averaging 120 BOEPD in the Permian Basin of West Texas.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for markets, and the demand for products. Forward-looking statements are no guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statements. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company assumes no duty to update its forward-looking statements.
Orion Diversified Holding Co Inc.
Thomas Lull, President
SOURCE: Orion Diversified Holding Co Inc.
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