2022-05-20 | OTCPK:OODH | Press release

CARSON CITY, NV / ACCESSWIRE / May 20, 2022 / Orion Diversified Holding Co Inc. (OTC PINK:OODH) (“OODH” or the “Company”) today announced that it has agreed to a price for 40 oil and gas wells on 1,480 acres in the Permian Basin. Preliminary estimates show that these properties have an average of 60 boepd and hold several infill drill locations. Orion Energen Inc. will operate these properties and own no less than a 100% working interest and a 76% net revenue interest in the 40 oil and gas wells.

AREA AND REVENUE HIGHLIGHTS

  • Mineral interest in over 5,500 acres in the Bakken Shale, Permian Basin, Woodford Shale and Eagle Ford Shale.
  • Over 2500 acres are currently operated by Orion at an NRI of over 70%.
  • Revenues are on target of $65,000 in Q2.

MANAGEMENT COMMENTS

“Our acreage position is growing rapidly and will reach 6,000 acres once the Permian acquisition closes. We have screened several properties in the Permian Basin for operations, and expect to generate over 80 boepd once this acquisition closes. The Permian Basin is where I had early success in the oil and gas industry, and built relationships with oilfield personnel and executives,” commented Orion CEO Tom Lull.

ABOUT ORION DIVERSIFIED HOLDING CO INC.

Orion Diversified Holding Co Inc. is a company whose primary strategy is to invest in majority working working interests, non-operating working interests and mining interests in oil and gas properties, with a core target in the major basins of the States -United. . For more information about Orion Diversified Holding Co Inc., please visit www.orionenergyco.com.

SAFETY STATEMENT

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to expected revenues, expenses, profits, operating cash flow, market outlook and demand. of products. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors that could cause actual results to differ materially from the forward-looking statements. These statements are based on, among other things, assumptions made by management and information currently available to it, including management’s knowledge and assessment of the Company’s industry and competition. The Company undertakes no obligation to update its forward-looking statements.

CONTACT:

Orion Diversified Holding Co Inc.

Thomas Lully, President

tom@orionenergyco.com

Phone: 760-889-3435

THE SOURCE: Orion Diversified Holding Co Inc.

See the source version on accesswire.com:

https://www.accesswire.com/702111/Orion-Diversified-Acquisitions-Continue

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