CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / April 16, 2020 / Nexera Energy Inc. (TSXV:NGY)(OTC:EMBYD) (the "Company" or "Nexera") reported that Hugo A. Gutierrez Jr. has acquired a 50% interest in the Company's LaVernia properties for USD $186,000. The recently acquired LaVernia properties comprise 30 oil and gas leases across approximately 3,550 acres, in the LaVernia Field of Wilson and Guadalupe Counties, Texas.
In addition to the purchase price, and in accordance with terms outlined in the Company's press release dated March 24, 2020, Hugo has been designated the right to acquire the 2,601,800 issued shares of Nexera for 15 cents per common share, representing in aggregate USD $300,000, on or before December 31, 2020.
Shelby Beattie, President and CEO of Nexera commented: "We are very pleased to have Hugo as a partner in our LaVernia properties. Since acquiring the properties we have commenced operations on several leases, including the Rouse and Lerma leases, and have completed extensive geologic and geophysical work on the Lerma lease to identify the location for a potential high impact horizontal Austin Chalk well. Bringing Hugo in as a partner at this time will give us the ability to accelerate the plans we have for LaVernia."
About Nexera Energy Inc.
Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is owner and operator of the Lavernia, Wooden Horse and Nash Creek Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.
For further information, please contact:
Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.nexeraenergy.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Nexera Energy Inc.
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