G2 TO BECOME THE OPERATOR OF ITS CORNERSTONE ASSET
Vancouver, British Columbia – June 12, 2023. G2 Energy Corp. (CSE:GTOO, FWB:UD9) (the "Company" or "G2") is pleased to announce that has initiated an application process to the Texas Railroad Commission to become the operator of its cornerstone-producing asset, the Masten Unit in Cochran county, Texas.
G2 has assembled an experienced operating team of local oil industry professionals that can advance the Masten Unit in a safe and efficient manner under the direction of G2’s Chief Operating Officer, David Whitby. G2 is expecting to become the Operator of Records, as defined by the Texas Railroad Commission, in a few weeks period, and is gearing up for the transition to start immediately.
Slawek Smulewicz stated: “It is a milestone for any company in the energy sector to become its own operator. As the operator, G2 will now be able to closely monitor all aspects of field operations, reduce costs and increase near-term production. Our first priority will be to initiate a low-cost work-over program on 6 of our existing wells following our capital raise. We anticipate a substantial increase in both our production and the resultant cash flow within 90 days.”.
On Behalf of the Board,
“Slawek Smulewicz” Slawek Smulewicz
For further information, please contact:
John Costigan VP Corporate Development
O: +1 604 620 8589
About G2 Energy Corp.
G2 is a junior oil and gas producer listed on the CSE exchange. It's primary focus is to acquire and develop additional overlooked, low risk, high return opportunities in the oil and gas sector. G2's strategy is to obtain a portfolio of risk-managed production and development opportunities onshore, U.S.A. In May 2022, G2 acquired the Masten Unit in the Permian Basin, Texas. The Masten Unit is the Company's first producing asset. G2 is targeting top tier projects with operating netbacks and infrastructure facilities which will fast track overall oil and gas production growth.