Vision Oil And Gas is an Oil & Gas Operator, with over 18,000 acres in the Permian Basin, 6,000 acres in South Texas and over 416 active or shut-in oil & gas wells.
MIDLAND, TX / ACCESS Newswire / June 11, 2025 / Azure Holding Group Corp (OTC PINK:AZRH) announced the completion of it's merger with Vision Oil And Gas, which is now viewable under the disclosures section of the company's profile on OTCMarkets.com.
As a result of the Merger, Azure Holding Group will be renamed Vision Oil And Gas. The merger brings with it 102 actively producing oil & gas wells, 241 shut-in wells (of which at least 120 have been identified as a workover candidate), and 42 injection wells spread primarily across 18,300 Acres on Tier 3 acreage in Cochran County in the Permian Basin. The merger also brings an additional 31 wells in South Texas located across 6,000 acres in Nueces, Duval, Bee, Webb, Starr and Zapata Counties in South Texas.
As a result of the Merger, Rodolfo Tijerina, a renowned geologist and managing member of Vision Oil & Gas, will be appointed as Executive Chairman of the Board of Directors, and will share control of the Vision Oil And Gas with Josh Cohen and Josh Watson.
Vision Oil And Gas will begin it's workover remediation plan to optimize the production across the existing Actively Producing wells in July 2025, and intends to bring over 120 targeted shut-in wells back online through it's first phase of remediation, set to occur between Q3 and Q4 2025.
The group believes that it will achieve between 200 to 250 barrels a day of production through it's first phase of remediation by December 2025, focusing on recovery efforts in the San Andreas formation where the wells are currently producing at depths varying between 5,000 and 5,000 feet. The company also intends to complete it's remediation efforts across it's South Texas assets by December 2025, adding between 50 to 80 BOED in production.
In Q1 2026, the group will begin it's evaluation re-entry into the Devonian through Vertical re-entry efforts across the existing wellbores. The Company's efforts are supported by a single direct offsetting well that is operated by an unrelated party, and that has produced over 275,000 cumulative barrels of oil at a depth of 12,600 feet, with a well location that is less than 3,000 feet away from over 7 of Vision Oil And Gas's existing San Andreas wells (the company's leases in Cochran County includes deep rights). If these test well re-entries prove successful, the company has identified over 200 existing and 200 new well locations to allow for vertical re-entry in the Devonian.
The company intends to self service it's own workovers, leveraging the expertise inhouse across it's team, and to ensure CAPEX and Lease Operating Expense efficiency, as well as execution against it's Capital Plans. The Company intends to partner with Service Companies that are well positioned to grow and scale with an emerging Independent Operator, and is open to entering into Master Service Agreements with the right counterparties.
The company intends to engage with a 3rd party engineer to obtain a Certified Reserve Report by December 2025, as a condition precedent to applying Reserve Accounting as dictated by the firms PCAOB Audit requirements to achieve uplist onto the OTCQX.
For further information, please reach out to Josh Cohen at (917) 584-7042 or by email at josh@controlleddev.com.
About Azure Holding Group
Azure Holding Group Corp. is an acquisition corporation focused on Oil Field Services, Oil Field Construction, and Oil & Gas Exploration & Production. The Company is currently evaluating further mergers and acquisitions.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about Azure's expectations, beliefs, plans or forecasts. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including, but not limited to: any projections of earnings, revenue or other financial items or future financial position or sources of financing; any statements of the plans, strategies and objectives of management for future operations or business strategy; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Words such as "estimate," "project," "predict," "will," "would," "should," "could," "may," "might," "anticipate," "plan," "intend," "believe," "expect," "aim," "goal," "target," "objective," "commit," "advance," "likely" or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release unless an earlier date is specified. Unless legally required, Azure does not undertake any obligation to update, modify or withdraw any forward-looking statements as a result of new information, future events or otherwise.
SOURCE: Azure Holding Group Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/azure-holding-group-corp-azrh-completes-merger-with-vision-oil-a-1038184
