Torrent Gold Inc. & Global Oil & Gas Recovery Corp. Sign a Non-Binding Letter of Intent
Vancouver, British Columbia (March 27, 2025) - Torrent Gold Inc. (CSE: TGLD) (FSE: RV0) (the "Company") is pleased to announce it has signed a non-binding letter of intent (“LOI”) to investigate potential business opportunities with Global Oil & Gas Recovery Corp. (“Global”), a private company focused on the acquisition and development of legacy and undervalued conventional oil fields. The LOI outlines the terms that Global and the Company will negotiate a definitive agreement (“Definitive Agreement”) to investigate new business opportunities together. The parties agree that the Company may seek an option to acquire an interest in GLOBAL common shares, assets, technology and future projects (up to 100%) to be described and set forth in the Definitive Agreement. The parties intend, subject to the provisions of this LOI, to work towards the execution of the Definitive Agreement reflecting their understanding of a new business plan with respect to the possible combination of business interests of the parties. As part of the Definitive Agreement, Mr. Richard Cindric, CEO of Global, is expected to join the Company board of directors.
Daniel Kunz, Chairman of the Company stated: “For the past six years in a row, the United States produced more crude oil than any nation at any time, according to International Energy Statistics. Given the emphasis on US crude oil production, the upward drift in crude oil prices, and rising natural gas prices, this transaction, as a supplement to the Company’s current portfolio of gold exploration assets, can provide an excellent opportunity for the Company's shareholders to participate in oil and gas assets with important upside potential.”
Terms of the business plan, transaction and related financing commitments will be provided in further news releases if and when the parties enter into a Definitive Agreement. The proposed transaction contemplates other material conditions precedent to the closing of any transaction, including compliance with all applicable regulatory requirements.
About Global Oil & Gas Recovery Corp.
Global’s primary focus is to implement enhanced oil recovery (“EOR”) techniques to existing abandoned wells, maturing oil fields, and previously thought to be exhausted reserves. Initially focusing in the states of Kansas, Oklahoma and Texas, EOR systems can be deployed in any jurisdiction as long as the prescribed conditions for EOR are met. Restoring to production formerly producing oil and gas wells can build underlying reserve value and cash flow opportunities.
Gas Flaring Solution
Global is currently funding the further development of a mobile refining unit (“MRU”). The MRU provides a potential solution to gas flaring for oil and gas companies who flare more than $10.6 billion in natural resources every year. The MRU technology is designed to address flaring, venting and leaking abandoned wells by capturing wasted methane gas and converting it into a usable fuel. This technology is currently in its final development stages and could be ready for production in late 2025. Global has the exclusive right to sell the MRUs in Kansas, Oklahoma, Colorado and California. To learn more visit: https://globaloilandgasrecovery.com/gas-flaring-solution
Additionally, Global has identified an initial portfolio of oil and gas field assets in Kansas, Oklahoma and Texas. The portfolio includes producing oil fields with associated proven reserves that are expected to be positive cash flow at current oil prices. Additional information will be provided concerning the assets after the Company has completed its due diligence.
About Torrent Gold Inc.
Torrent Gold is a mineral exploration company acquiring and exploring mineral properties during the current resource commodity cycle. Torrent holds two gold exploration properties in the Great Basin. The Company has a Boise, Idaho based technical team that is well positioned to conduct exploration in Idaho, Nevada, and Utah.
For further information, please contact:
Torrent Gold Inc.
Daniel Kunz, Chairman
T: (208) 761-7450
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Completion of the Transaction is subject to several conditions, including but not limited to, the acceptance of the CSE. There can be no assurance that the Transaction will be completed as proposed or at all.
Global Oil & Gas Recovery Corp. Cancels LOI with G2 Energy Corp.
Vancouver, British Columbia – March 27, 2025 G2 Energy Corp. (CSE:GTOO, FSE:B4O, OTC PINK:GTGED) (the "Company" or "G2") announces today that pursuant to its news releases dated December 20, 2024, Global Oil & Gas Recovery Corp.(“Global”) has terminated the Letter of Intent (the “LOI) effective March 26, 2025, between G2 and Global signed on December 20, 2024.
On Behalf of the Board,
“Slawek Smulewicz”
Slawek Smulewicz, CEO
T: 778 300 5387
About G2 Energy Corp. G2 is a junior oil and gas producer listed on the CSE exchange. Its primary focus is to acquire and develop additional overlooked, low-risk, high-return opportunities in the oil and gas sector. G2's strategy is to obtain a portfolio of risk-managed production and development opportunities onshore, the U.S.A. In May 2022, G2 acquired the Masten Unit in the Permian Basin, Texas. The Masten Unit is the Company's first producing asset. G2 is targeting top-tier projects with operating netbacks and infrastructure facilities which will fast track overall oil and gas production growth. The Canadian Securities Exchange has neither approved nor disapproved the information contained herein.
Global Oil & Gas Recovery Corp., Signs Definitive Agreement to enter into an Asset Purchase Agreement for 100% of the Shiloh Oil & Gas Leasehold from TexxStar Inc.
Portland, Oregon--(December 9, 2024) - Global Oil & Gas Recovery Corp. ("Global" or the "Company") is pleased to announce that further to the letter of intent ("LOI") with TexxStar Inc.("TexxStar") announced in the Company news release dated July 24, 2024 the Company signed a definitive agreement to complete the acquisition of the Shiloh Oil & Gas leasehold ("the Shiloh Transaction"). The Shiloh Oil & Gas leasehold is a 5,000 acre leasehold located in SE, Kansas. This leasehold straddles 4 counties in Southeast Kansas Allen County, Woodson County, Wilson County, and Neosho County. The 4 counties where the leasehold is located realized production of 719,217 barrels of oil and 7,299,945 MCF of natural gas in 2022.
TERMS OF THE TRANSACTION
The total consideration will consists of a cash payment of $25,000.00 USD and common shares of Global equivalent to $800,000.00 USD. Subject to completion of the Shiloh Transaction the board of directors of Global will approve the Company to deliver the common shares of Global to TexxStar, which will satisfy Global's obligation under the Shiloh Transaction. The consideration is to be payable in such a number of common shares equivalent to $800,000 USD in its share capital ("Consideration Shares") at a per share price equal to $1.00 USD. The Company will acquire 100% of Shiloh assets and current inventory.
About The Shiloh Oil & Gas Leasehold
The Shiloh Oil & Gas project is a 5,000 acre leasehold straddles 4 counties in Southeast Kansas Allen County, Woodson County, Wilson County, and Neosho County.
This area is called the "Coalbed Methane" formation, which can be seen from the perforations on the cross section of the Sandstones, Bartlesville and Squirrel area of the reservoirs. Also, the Mississippian is usually a limestone formation, which has the potential for oil and gas and in certain areas helium. In August of 2023.
Global conducted a gas pressure test on the project with a local geologist. The test indicated that 85% of the 114 well bores were available for rework and ready to be swabbed and pumps inspected to be put back into production. The company will begin the process of doing a workover on 90 wells with the objective to reactivate the wells in stages, targeting initially a production volume of 500 MCFG/D and then ramping up to 1,000 MCFG/D. Estimated oil reserves are 926,500 BBL.
About Global Oil & Gas Recovery Corp.
The Company's primary focus is to implement Enhanced Oil Recovery (EOR) techniques to existing abandoned wells, maturing oil fields and previously tapped reserves located in the United States and Canada. By restoring these existing oil and gas wells we create value for our shareholders by generating revenue from oil and gas production.
On behalf of the Board of Directors
Global Oil & Gas Recovery Corp.
Richard Cindric, CEO and Director
For further information, please contact Mike Poulin, IR Representative at: 604-719-1796 richard@globaloilandgasrecovery.com
Global Oil & Gas Recovery Corp., Announces Termination of Definitive Agreement with Metawells Oil & Gas Inc.
PORTLAND, OR, October 31, 2024 (OTC Disclosure & News Service) -- ("Global Oil & Gas Recovery Corp." or the "Company") announces that the amalgamation agreement between the Company and Metawells Oil & Gas Inc., dated April 16, 2024, as amended (the "Definitive Agreement"), and as further described in the press releases dated April 16, 2024 and July 23, 2024, has been terminated.
For further information contact:
Global Oil & Gas Recovery Corp.
Suite # 214, 4320 S. Corbett Ave.
Portland, OR., 97239
Office: 503-660-9790
Mobile: 604-719-1796
Global Oil & Gas Recovery Corp., Signs Letter of Intent with TEXXSTAR INC., to acquire the Shiloh Oil & Gas Project is SE Kansas.
PORTLAND, OR - July 23, 2024 - Global Oil & Gas Recovery Corp. (GlobalOG) has signed a Letter of Intent (LOI) with TEXXSTAR INC., to acquire the Shiloh Oil & Gas Leasehold in SE Kansas.
The Shiloh Oil & Gas Leasehold
This leasehold straddles 4 counties in Southeast Kansas Allen County, Woodson County, Wilson County, and Neosho County. The 4 counties where the leasehold is located realized production of 719,217 barrels of oil and 7,299,945 MCF of natural gas in 2022.
This project was last put together by Admiral Bay Resources in 2007 and produced over 3.8 BCF of gas for Exodus Gas & Oil LLC.
Geology
This project lies in the Cherokee Basin just to the south of the Bourbon Arch, which borders Kansas and Oklahoma. Available data and mapping indicate the basement structural features in the area of the state are located on the top of Arbuckle in southeast Kansas, as well as the top of the Mississippian Formation. Major structural features show that the Bartlesville Sandstone, Squirrel Sandstone and Mississippian are productive formations.
This area is called the "Coalbed Methane" formation, which can be seen from the perforations on the cross section of the Sandstones, Bartlesville and Squirrel area of the reservoirs. Also, the Mississippian is usually a limestone formation, which has the potential for oil and gas and in certain areas helium.
Shiloh Gas Project Highlights
5,000 acres HBP
30 miles of shut in gas system
Producing 500 MCFG/D when shut in
108 well bores
Well depth 900'
Potential to drill 150 more gas wells
50# gas gathering lines
4.5 inch casing
$100,000 in usable equipment
Gathering systems for both gas and water
The Opportunity
In August of 2023 GlobalOG conducted a gas pressure test on the project with a local geologist. The test indicated that 85% of the 114 well bores were available for rework and ready to be swabbed and pumps inspected to be put back into production.
GlobalOG will begin the process of doing a workover on 90 wells with the objective to reactivate the wells in stages, targeting initially a production volume of 500 MCFG/D and then ramping up to 1,000 MCFG/D.
The leasehold previously also produced oil from a couple of wells, although the previous operator did not target the oil. GlobalOG will do a workover on a couple of oil wells, assess the potential to re-work and convert some of the lower producing gas wells to oil, and then begin a drilling program, targeting oil formations which include the Squirrel and the Bartlesville Sands formation. Estimated oil reserves are 926,500 BBL.
Terms of the agreement and financing commitment will be outlined in the Definitive Agreement.
Contact Information
For more information contact:
Richard Cindric, CEO
Phone: (604) 719-1796
Global Oil & Gas Recovery Corp., Bringing Game-Changing Gas Flaring Solution to the Oil & Gas Market
PORTLAND, OR - June 05, 2024 - Global Oil & Gas Recovery Corp. (Global) release information on the patented "Gas Flaring Solution" called the Mobile Refining Unit (MRU) developed for producing green fuels from wasted natural gas.
Methane emissions are among the top causes of global warming responsible for around 30% of the rise in global temperatures since the Industrial Revolution; it is the second largest contributor to global warming after CO2. Methane tends to leak into the atmosphere undetected from drill sites, gas pipelines and other oil and gas equipment, so reining in methane emissions can have a more immediate impact on limiting climate change. The market segments include oil and gas, landfill gas, bio gas, shale gas, large scale to produce diluents to transport heavy oil to the US market. In Canada, the Alberta Energy Regulator is shutting in wells that cant meet the emission objectives. Furthermore, EPA's new policies will ban routine flaring of natural gas produced by newly drilled oil wells, require oil companies to monitor for leaks from well sites and compressor stations and establishes a program to use third party remote sensing to detect large methane releases from so-called "super emitters".
Tackling methane emissions is one of the most cost-effective ways to reduce greenhouse gas emissions. The MRU technology developed and patented by PENG for Global, addresses the flaring, venting and leaking abandoned wells issue by capturing the wasted methane gas and converting it to a usable fuel.
The MRU technology converts methane to liquid by applying a catalytic partial oxidation (CPOX) step in a milli-second reactor. This compact reactor costs a fraction of steam methane reforming (SMR) because it is exothermic rather than endothermic and so heat management is much simpler. The patented MRU technology is currently in final development stages and could be ready for production in 2025.
More information will be released as the Company moves on with the implementation of its business plan.
ABOUT GLOBAL OIL & GAS RECOVERY CORP.
The Company's primary focus is to implement Enhanced Oil Recovery (EOR) techniques to existing abandon wells, maturing oil fields and previously tapped reserves located in the United States and Canada. By restoring these existing oil and gas wells we create value for our shareholders by generating revenue from oil and gas production.
Green Technology - Focused on Methane Emission Mitigation
The company is funding the further development of Mobile / Methane Refining Unit (MRU) developed and patented by PENG. Oil and gas companies flare more than $10.6 billion in natural resources every year. They set fire to billions of cubic feet of natural gas through flaring and venting each year. Flaring, venting and leaking abandoned gas wells not only waste natural resources but pollute the atmosphere with hazardous methane gases.
Contact Information
For more information contact:
Richard Cindric, CEO
Phone: (604) 719-1796
richard@globaloilandgasrecovery.com
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