HOUSTON, Feb. 1, 2024 /PRNewswire/ -- Resilient Energy, Inc. (OTC Markets: RENI) ("RENI" or "the Company") Announces the commencement of its corporate communications. Mr. Jon Bianco, CEO of the organization, has diligently presented a thorough corporate update on the Company's acquisition strategy and plan for FY 2024, in a letter addressed to its esteemed shareholders. This document provides comprehensive insights into the successful execution of its strategic initiatives. The complete message is available below.
Dear Shareholders:
The journey to establish Resilient Energy, Inc. as a publicly traded company has been significant. Our foray into the oil and gas industry began in 2012, and after a decade of operations, we strategically listed the company's stock to facilitate rapid expansion and diversification. RENI's common shares have been quoted on OTC Markets and trading since fourth quarter 2023.
This marks our inaugural communication with shareholders, and I am honored to assume the role of CEO for this dynamic and high-growth company. I am delighted to unveil our management's plan to embark on an acquisition roadmap, propelling rapid expansion and diversification.
Drawing upon our years of expertise and with our headquarters situated in Houston, Texas, recognized as "The Energy Capital of the World," our mission is to discover, develop, and enhance the production of traditional oil and gas properties, with a specific focus on conventional plays on vertical wells currently in production.
Anticipating RENI's swift attainment of positive cash flow through a judicious approach, we plan to achieve this by enhancing existing oil and gas production. Utilizing new technologies, we aim to increase yields and optimize wells, thereby unlocking upside potential. A recent report from consulting and analysis giant Deloitte (link here) projects a robust start for the hydrocarbon industry in 2024, attributing it to a strong financial position, high oil prices, and an estimated generation of over US$800 billion in free cash flow.
Taking inspiration from Warren Buffett's Berkshire Hathaway playbook, we aspire to diversify our investments. Our initial acquisition will be steered by the most opportunistic deal prospect available. Our acquisition pipeline is in advanced discussions with various companies. Resilient Energy Inc. is committed to strategically acquiring both oil and gas assets and companies capable of augmenting our energy sector production, serving as an independent and supplementary revenue stream. Our acquisition criteria are to prioritize entities that are presently generating or are poised to generate positive cash flow in the near future. I am confident that multiple acquisitions will materialize, expanding our investment portfolio.
We project achieving operational cash flow positivity by the 1st quarter of 2025, accompanied by an enticing array of diverse holdings. I am confident that this will elevate our overall valuation with superior multiples compared to typical oil and gas companies.
The fusion of our collective experience and energy fuels our enthusiasm to serve the Company and its shareholders. My team and I are steadfast in our dedication, driven by the positive economic outlook for 2024 and our unwavering belief in our vision.
Expect regular updates on our progress and successes as we actively communicate our vision and story through various channels.
Sincerely,
Jon Bianco
Chairman and CEO
About Resilient Energy, Inc.
Resilient Energy, Inc. (OTC: RENI) operates as an independent energy company with a strategic business plan centered on the acquisition, exploration, development, and production of North American conventional oil and gas properties. The company's mission is to discover, develop, and enhance the production of traditional oil and gas plays. Resilient Energy prioritizes properties and companies specializing in shallow vertical wells with existing production, aiming to boost yields through marginal efficiency-based improvements. Additionally, the company seeks identifiable PUD opportunities for further development to increase reserves. Its dedicated management team has identified several properties and companies aligned with these criteria. Resilient Energy distinguishes itself by offering a consistent deal flow and maintaining operational efficiency at low costs.
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Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release may be "forward-looking statements". Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other information relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business based partly on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and Resilient Energy, Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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Contact Information:
Marc Pindus
President - Resilient Energy, Inc.
Resilient Energy, Inc. (OTC: RENI)
Phone: 713-742-2702
Web: https://resilientenergyinc.com/
Email: [email protected]
SOURCE Resilient Energy inc.
