Mondial Ventures, Inc. Signs Letter of Intent With Ben J. Taylor, Inc. to
Employ a High Volume Staged Frac in Ward County, Texas
SCOTTSDALE, AZ -- (Marketwired) -- 02/12/14 -- Mondial Ventures Inc.
(OTCQB: MNVND) (the "Company") announced today it has signed a Letter
of Intent (referred as "LOI") with Ben J. Taylor, Inc. (referred as
"Taylor") to employ a high volume staged frac in Ward County, Texas.
The LOI calls for the Company to join with Taylor in the development
of the Third Bone Springs and Wolfcamp formations in the University
18-19A "No. 1" well at approximately 11,000 foot depth, located in
Ward County, Texas. Mondial and Taylor plan to employ a high volume
staged frac technique to develop the known proven reserves in the two
formations. Apache and EOG Resources, Inc. have offsetting wells
which have been very prolific in these zones. The program will
require the Company to raise an estimated $1.2 million for Capital
Expenditures related to the program. The program would allow for the
initial finance for the program to be recaptured out of 100% of
working interest revenues before a future ongoing 50/50 split, based
on approximately 75% net revenue interests. The Definitive Agreement
is subject to due diligence and rig availability. The Company expects
to start field operations within 90 to 120 days.
About Ben J. Taylor, Inc.
Ben J. Taylor, Inc. is a Texas oil and gas operating company founded
by Ben J. Taylor who started in the oil business in 1927 and
continued until 2000. The Texas Legislature passed a House Concurrent
Resolution No. 291 commending Ben J. Taylor for his lifetime
achievement in the petroleum industry and in particular the
development of Texas oil and gas resources. The company is still
family owned and operated.
About Mondial Ventures Inc.
Mondial Ventures, Inc. is Oil and Gas Producer engaged in the
acquisition of Oil and Gas properties and assets that can be
developed into revenue producing assets. The Company has put an
emphasis on acquiring existing Oil fields with proven reserves or by
the rehabilitation of oilfields with potentially high throughput.
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements appear in a number of places in
this release and include all statements that are not statements of
historical fact regarding the intent, belief or current expectations
of Mondial Ventures Inc., its directors or its officers with respect
to, among other things: (i) financing plans; (ii) trends affecting
its financial condition or results of operations; (iii) growth
strategy and operating strategy. The words "may," "would," "will,"
"expect," "estimate," "can," "believe," "potential" 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 Mondial
Ventures Inc.'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. More information about the
potential factors that could affect the business and financial
results is and will be included in Mondial Ventures Inc.'s filings
with the Securities and Exchange Commission.
CAUTIONARY NOTE TO UNITED STATES INVESTORS
The United States Securities and Exchange Commission permits oil and
gas companies, in their filings with the SEC, to disclose only proved
reserves that a company has demonstrated by actual production or
conclusive formation tests to be economically and legally producible
under existing economic and operating conditions. We use certain
terms, such as prospective resource or Original Oil in Place (OOIP)
or Petroleum Initially In Place (PIIP), that the SEC's guidelines
strictly prohibit us from including in filings with the SEC. U.S.
Investors are urged to consider closely the disclosure in our Form
Additional information may be found at the following web site:
Public Relations and Shareholder Information
Phone: (754) 204-4549
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