Holiday Island Holdings, Inc., dba EP3OIL, – operating in the Secondary Recovery of Oil & Gas Industry – has accepted a Letter of Intent to enter into a Joint Venture wherein it will receive $2.5 million from a highly experienced international oil company - Supeca Oil - to develop the Drummond Oil Field located in West Texas.
Projections on this field, as reported by Benchmark Petroleum Partners, indicated a significant increase in gross revenue of oil production over its life.
Glenn Klinker, CEO and Chairman of EP3OIL, says: “I am so happy with the confidence investors have instilled in EP3OIL and our ability to produce highly rewarding oil production.”
Our recently appointed Vice President and Marketing Director for Latin America, Mr. Alverico Asencio, says: “EP3OIL is very excited to be working with such a knowledgeable and experienced company.”
Mr. Asencio and his team are looking forward to this JV, which is expected to be the first of many with Supeca Oil.
EP3OIL and Supeca Oil will perform due diligence over the next 30 days to solidify their Joint Venture.