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Stock impact report

Mentor Capital Wins Auction for Permian Basin Oil and Gas Royalties

MENTOR CAPITAL INC (MNTR) 
NASDAQ:AMEX Investor Relations: mentorcapital.com/portfolio
Company Research Source: Business Wire
25 Net Royalty Acres Purchased as Part of a 71 Producing Well Program PLANO, Texas--(BUSINESS WIRE)--Mentor Capital, Inc. (OTCQB: MNTR) announced that in an all cash transaction it has purchased a 25.127 net royalty acre portion of a producing 71 well pooled project in the West Texas Permian Basin. Mentor’s purchased royalty stream is the equivalent to 12.5% “off the top” of oil and gas revenues for its acreage, with no responsibility to pay any expenses. During the preceding six-months, the average production for Mentor’s portion has been recorded as 10 barrels of oil per day, plus 24,000 cubic feet of natural gas per day. Additionally, 16 well locations in the Dean and Wolfcamp formation remain in project inventory pending development by the major operator, Diamondback E&P LLC.The pooled project that Mentor participates in has total oil and gas production of approximately $1,000,000 per day and is expected to have considerable life. As is now common in Permian oil fields, some ex Show less Read more
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