The public offering of its shares will help finance the growth of XA's operations and to tap into its significant, proven oil reserves.
Orlando, Florida--(Newsfile Corp. - March 6, 2023) - XA Interactive, a technology, and secondary recovery oil and gas company, has announced that they have struck oil in the Permian Basin. The announcement comes following the completion of its first three oil wells which are part of its 335-well drilling campaign which has drawn the attention of key players and investors in the oil and gas sector, given the company's proven oil reserves.
The company is currently in the process of finalizing its plans for its public offering through a reverse merger to help expedite its operations, and is expected to make a formal announcement in the coming weeks. The successful drilling of the wells is seen as a welcome development that will contribute to the economy and help meet the energy needs of Americans.
Speaking on the occasion, XA's CEO Michael Prozer said, "This is exciting news, having the successful drilling of these wells. I have the best operations team and staff who have been working very hard day and night for the past few months. According to our comprehensive well data acquisition from intelligent formation testing, fluid sampling, and pressure measurements, the resources appear to exceed our pre-drill expectations and have motivated us as we continue our drilling efforts by bringing new wells online. The successful drilling is also in line with our company's vision and adds to the value to the public offering. As a newcomer to the oil and gas sector, we have very ambitious goals, proven reserves, and work with the very best in the industry."
The company is now focused on its public offering, continuing its operations and tapping into its reserves, which are said to be in the billions of dollars. This will enable faster production so the company's aggressive drilling plans can be achieved.
People interested in learning more can visit XA's website today: www.xainteractive.com.
ABOUT XA INTERACTIVE INC:
XA Interactive Inc.™ ("XA") specializes in technology and digitalization to help solve the challenges of today's world. With substantial oil and gas drilling operations, cutting-edge app development, and expert development of top-quality digital advertising platforms and electric vehicle charging stations. XA is incorporated in Las Vegas, Nevada, with offices in Orlando, Florida.
XA is involved in three diverse fields of business: Natural Resources; Technology; and Electric Vehicle Charging Stations.
For more information, please visit www.xainteractive.com
Contact Information
Company Name: XA Interactive, Inc.
Contact Person: Josephine Vargas
Email: josephine@xainteractive.com
Website: https://xainteractive.com/
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