VIRGINIA BEACH, Va., July 15, 2026 (GLOBE NEWSWIRE) -- Bioforce Nanosciences Holdings, Inc. (OTC: BFNH) ("Bioforce" or the "Company") announces that the U.S. Bureau of Land Management (BLM) has approved the assignment of eleven (11) federal oil and gas leases covering approximately 20,000 acres in Nevada's White River Valley.
These leases have been the subject of extensive geological due diligence for more than ten years. Bioforce is extremely appreciative to have stewardship of these long-studied assets under our leadership and believes the decade of technical work materially informs the Company's disciplined exploration approach.
Planned exploration and development activities
The Company intends to commence exploration and development activities on the Nevada leases, which may include, as warranted:
- Additional geological and geophysical studies, including possible 3D seismic surveys;
- Drilling of initial exploration and development wells;
- Completion and production testing of wells;
- Construction of gathering systems and production infrastructure; and
- Evaluation of strategic partnerships, joint ventures, or farm-out arrangements to accelerate development and share capital and technical risk.
Independent technical and valuation work
On June 26, 2026, Bioforce engaged Ryder Scott, a leading independent petroleum engineering firm, to develop a resource calculation for these properties and to confirm the net present value (NPV) of any identified reserves. To date, preliminary data indicate potential for oil and gas; however, more intensive exploration and evaluation are required to confirm whether economic resources are present.
If Ryder Scott's evaluation confirms economic resources, the Company plans to retain a PCAOB-registered auditor experienced in oil and gas valuations to quantify and report the accounting impact in accordance with generally accepted accounting principles.
Management comment
Richard Kaiser, Interim CEO and CFO, commented, "The Nevada leases represent a real opportunity for Bioforce. We are extremely appreciative to have these long-studied leases under our leadership - years of geological due diligence give us a strong technical starting point. We look forward to working with Ryder Scott to develop resource estimates"
Caveat regarding reserves and viability
Acquiring these BLM leases underscores Bioforce's commitment to responsibly exploring and unlocking domestic energy potential on the property. While the Company is optimistic about the prospects, there can be no assurance that hydrocarbons exist on the leased properties or that any discovered resources will be economically viable. Exploration and development are subject to technical, commercial, regulatory, and market risks.
About Bioforce Nanosciences Holdings, Inc.
Bioforce Nanosciences Holdings, Inc. (OTC: BFNH) is dedicated to unlocking energy potential in support of future technological advancements while responsibly exploring oil and gas opportunities. For more information, visit www.bioforceeclipse.com.
Forward-Looking Statements
Certain statements contained herein are not based on historical fact and are "forward-looking statements" within the meaning of applicable securities laws. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the Company's forward-looking statements. These risks and uncertainties include, but are not limited to: local, regional, national and international economic conditions; Fluctuations in the price of oil and gas; international conflicts and tensions; weather, acts of God and other disasters; inflation or deflation; increases in unemployment rates and taxes; increases in labor and health insurance costs; interest rate changes, compliance with debt covenants and the Company's ability to make debt payments. The Company assumes no obligation to update any forward-looking statement, except as may be required by law. These forward-looking statements speak only as of the date of this report. All forward-looking statements are qualified in their entirety by this cautionary statement.
For further information, contact:
Bioforce Nanosciences Holdings, Inc.
Phone: (757) 306-6090
Email: info@bioforceeclipse.com
Website: www.bioforceeclipse.com
