Letter from the President of Medically Minded, Inc. announces
direction for expansion amid industry growth
OKLAHOMA CITY, OK -- APRIL 18, 2017 -- InvestorsHub NewsWire --
MEDICALLY MINDED, INC. (OTCPink:
MMHC) (the "Company"), now named Sixty Six Oilfield Services,
Inc. announces corporate direction for expansion. After completing
the acquisition of 66 Oilfield Services, LLC on March 14, 2017,
James Frazier, President and Chief Financial Officer the Company,
said: We have submitted an application to the Financial Industry
Regulatory Authority for a market announcement of the Companys
legal name change to Sixty Six Oilfield Services, Inc. and a change
of our ticker symbol to reflect the new legal name. The Company has
requested and received a new CUSIP number.
Mr. Frazier further remarked: As the oil equipment industry
evolves, we are excited by the opportunity to grow, expand and
become an even larger player in the market. We are diligently
working on preparing a Form 10 for filing with the SEC that we
expect to engender an improvement in the Companys market position.
While we pursue the Form 10 registration statement process, we will
maintain our focus on growing our core business of sourcing,
selling and renting oil field equipment.
The Company is now a third-generation heavy oil field equipment
company founded by J.C. Houck in Oklahoma in 1959. The Company is
focused on supplying the oil industry with custom drilling rigs,
heavy-weight drill pipe, drill collars, pup joints, pony collars,
handling tools, tubing, casing, blow-out preventers, engines,
compressors and other select equipment to customers world-wide
through our facilities in Oklahoma City, Germany and Dubai. The
acquisition of 66 Oilfield Services, LLC is expected to enable the
Company to grow faster with better access to the capital market.
Mr. Frazier explained: We believe that the new administration will
be a positive force for the oil production industry. Our plan is to
substantially increase Company value through an expansion of
services and acquisition, resale and lease of more equipment for
the oil drilling industry. This move will allow our strong
management and executive team to rapidly grow the Company with our
proven technical and logistical track record of high
performance.
The future for oilfield equipment growth has a positive outlook.
According to the U.S. Energy Information Associations Short-Term
Energy and Summer Fuels Outlook report, U.S. crude oil production
averaged an estimated 8.9 million barrels per day (b/d) in 2016.
U.S crude oil production is forecast to average 9.2 million b/d in
2017 and 9.9 million b/d in 2018. EIA expects oil prices in 2017 to
be about $10 higher per barrel than they were last year. In
February 2017 Jude Clemente at Forbes.com said: In fact, the U.S.
oil and gas industry is expected to boost spending this year by
about 35%, and rig counts continue to climb. Since the OPEC
production cut deal end-November, our oil rig counts have increased
by 125, and at 602, are at their highest levels since October 2015.
The feeling is that OPEC and its non-OPEC partners will agree to
another cut starting in July.
The Company is preparing to engage an independent accountant to
audit its 2015 and 2016 financial statements. Upon completion
of the audits, the Company intends to file a Form 10 registration
statement with the Securities and Exchange Commission, within 60
days, to become a fully reporting company.
For more information please visit www.66oilfield.com.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended (the Exchange Act), including all statements that are
not statements of among other things: (i) the Company's financing
plans; (ii) trends affecting the Company's financial condition or
results of operations; (iii) the Company's growth strategy and
operating strategy; and (iv) the declaration and payment of
dividends. The words "may", "would", "will", "expect", "estimate",
"anticipate", "believe", "intend" and similar expressions and
variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond the Company's
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors including the risk disclosed in the Company's
reports filed with the SEC. The Company is not eligible to rely on
the safe harbor provided by Section 21E(c) of the Exchange Act
because it is not subject to filing periodic reports under Sections
13 or 15(d) of the Exchange Act.
For more information, contact:
Jim Frazier, President
Jim@66oilfield.com
info@66oilfield.com
405.735.6666
855. DRL.PIPE (375-7473)
Only information that is publicly available will be provided.