Amazing Energy Oil and Gas Co (OTCQX:AMAZ) CEO Willard McAndrew III tells Proactive Investors about its plans to uplist either to the Nasdaq or the New York Stock Exchange by the end of the year.
The Texas-based oil and gas exploration company holds a lease for 70,000 acres in the oil-heavy Permian Basin.
“We don’t own 70,000 acres. We have an option and control 70,000 acres forever for US$200 per acre, even though people are paying US$1,500 an acre around us, so we’re in a very unique position,” said McAndrew.
In the near future, the company expects to be cash-flow positive within the next 90 days. Within the next year, production is forecast to reach the 300 to 400 barrel per day range.