dinogreeves
21 hours ago
Yeah, I was going to say, cause if Mountain V was coming here also as part of the merger, then this qualifies this ticker to a half a billion market cap for starters, Montain V is very established and family owned and so are the others too, but Mountain V is just another breed of its own. Thanks for those insights on the propane side of it.
Controlledoilandgas
22 hours ago
Yes Josh confirmed the following for us - Oil Field Services AI will be issuing the LOI to Edward Button Jr tomorrow regarding merging Button Energy into $AZRH. The meeting was very good between both parties yesterday and today. The most important aspect when merging with an 85 year old multigenerational family is creating a viable transition plan that enables the family to remain in control and grow their business, while creating liquidity for the family in the equity that they have as a private company, protecting the family from tax burden, and allowing the company to grow at the pace that it currently is realizing - while maintaining extremely positive and opportunistic retail shareholder growth and sentiment.
Both parties feel confident that they are in agreement on achieving all of the above.
Regarding CST, Josh is already shareholder in the company and the relationship and growth trajectory is stronger than ever with William France back in the field and refocused after separating from his former business partner Integrity Services (in 2022, the company recognized $140M in revenue combined). William has led the transition while strengthening the team and further strengthening 40 year old relationships with major operators like Pioneer, Halliburton, and EOG to name a few.
Quail Energy led by Tim Allen is one of Joshโs oldest relationships in the Oil Field. Itโs important for both parties to feel confident in their other forward together, and the conversations have been extremely positive in pursuit of what both believe is a realistic solution in combining forces.
Lastly, Josh and Mountain V are deep in discussions on a strategy to acquire later life producing and operated assets deeper into Kentucky (Heavier Oil- strong wet gas (methane, propane & butane rich) with the ability to offtake and feed Button Energyโs home heating oil and propane divisions. Both groups believe that the economics on the prospect will be able to be reviewed over the next few weeks. Mountain V is once of Joshโs oldest and strongest relationships in the Oil Field. Mountain V is a 30 year old company started by Mike Shaver and his father. The company currently owns 3,500 producing oil & gas wells that span over 300,000 mineral and surface acres in West Virginia, Kentucky, Tennessee and Pennsylvania.