MARKSMEN ENERGY INC. : http://www.marksmenenergy.com/ : QwikReport

News Releases

#January 31, 2019
MARKSMEN ANNOUNCES CLOSING OF FINANCING TO REPLACE OUTSTANDING DEBENTURE

 CALGARY, ALBERTA, January 31, 2019 -- Marksmen Energy Inc. ("Marksmen" or the "Company") announces that it has closed its previously announced non-brokered financing to replace an outstanding debenture by issuing a non-convertible secured debenture ("Debenture") in the amount of $1,250,000 and 1,800,000 share purchase warrants of the Company (the "Warrants"). Each whole Warrant entitles the holder thereof to purchase one common share of the Company for $0.24 per share if the Debenture is paid in full by April 30, 2019 and at $0.22 per share thereafter, expiring on December 31, 2019. The Debenture was issued to replace the outstanding $1,250,000 debenture which expired December 31, 2018 and bears interest at 12% per annum and matures on December 31, 2019. The terms of the Debenture, other than the maturity date, are the same as the debenture that is being replaced.
Completion of the financing is subject to regulatory approval, including the approval of the TSX Venture Exchange Inc. The securities issued are subject to a four month hold period from the date of the closing.

Related Party Participation

The holder of the debenture that is being replaced, an insider of Marksmen, subscribed for the entire Debenture. As an insider of Marksmen subscribed for the Debenture, it is deemed to be a "related party transaction" as defined under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions ("MI 61-101").

Neither the Company, nor to the knowledge of the Company after reasonable inquiry, the related party, has knowledge of any material information concerning the Company or its securities that has not been generally disclosed.

The issuance of the Debenture is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsections 5.5(c) and 5.7(1)(b)) as it was a distribution of securities for cash and neither the fair market value of the Debenture distributed to, nor the consideration received from, interested parties exceeded $2,500,000.

For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release may contain certain forward-looking information and statements, including without limitation obtaining regulatory approval for the Debenture. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward- looking information and a description of risk factors that may cause actual results to differ materially from forward- looking information can be found in Marksmen's disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.
 
#January 16, 2019
MARKSMEN ANNOUNCES OPERATIONAL UPDATE

 CALGARY, ALBERTA, January 16, 2019 -- Marksmen Energy Inc. ("Marksmen" or the "Company") is a 60% working interest owner in the Leaman #1horizontal well operated by Hocking Hills Energy and Well Services LLC, in Hocking County, Ohio.

In a press release dated December 19, 2018, Marksmen announced that a new horizontal/lateral leg paralleling the original well bore was successfully drilled at the Leaman #1 horizontal well.

The well has recently been equipped with tanks, a pumping unit, tubing, rods and a bottom hole pump. Current operations include hydraulic fracturing load recovery and well testing which commenced on January 12, 2019. To date approximately 480 barrels of fluid consisting of hydraulic fracturing fluid, formation brine, and crude oil have been produced. Approximately 8% of the total fluid volume was produced as oil. To date the pumping unit has not operated on a full 24-hour cycle but it is anticipated that the pumping rate will stabilize between 120 and 220 barrels per day as hydraulic fracturing load recovery progresses and the well transitions into production. Fluid levels, water testing, pressure data, and other technical data is being collected and evaluated.

Multi-stage hydraulic fracturing was completed in May 2018 which included the introduction of large volumes of water and sand under pressure to stimulate the reservoir. Artificial lift is currently being used to recover the hydraulic fracturing water-load from the reservoir. It is normal for a percentage of the hydraulic fracturing fluid to be recovered during initial operations. Marksmen is very encouraged by high initial pumping rates which indicate excellent connectivity with the reservoir and are also encouraged by the increasing oil cut as we continue hydraulic fracturing load recovery.

Marksmen is very excited by these preliminary results and looks forward to putting the Leaman #1 Clinton Sandstone horizontal well on full production.
For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release, or the documents referenced may contain certain forward-looking information including without limitation the Company's initial production operations and operational plans and the timing thereof. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen's disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.
 
#December 21, 2018
MARKSMEN ANNOUNCES PROPOSED PRIVATE PLACEMENT OF DEBENTURE AND GRANTING OF STOCK OPTION

 CALGARY, ALBERTA, December 21, 2018 -- Marksmen Energy Inc. ("Marksmen" or the "Company") announces that it has reached an agreement in principal to complete a non-brokered private placement of a non-convertible secured debenture ("Debenture") for gross proceeds of $1,250,000 (the "Offering") and issue 1,800,000 share purchase warrants of the Company (the "Warrants"). Each whole Warrant entitles the holder thereof to purchase one common share of the Company for $0.24 per share if the Debenture is paid in full by April 30, 2019 and at $0.22 thereafter per share expiring on December 31, 2019. The Debenture is being issued to replace the outstanding $1,250,000 debenture which expires December 31, 2018 and shall bear interest at 12% per annum and shall mature on December 31, 2019. The terms of the Debenture, other than the maturity date, are the same as the debenture that is being replaced.
The subscriber to the Offering is expected to be a company controlled by Mr. Glenn Walsh, an insider of Marksmen and the Offering is expected to close in early January 2019. Completion of the Offering is subject to regulatory approval, including the approval of the TSX Venture Exchange Inc. The securities issued will be subject to a four months hold period from the date of the closing of the Private Placement.

Marksmen also announces the granting of a stock option to purchase 100,000 common shares of the Company to a director subject to regulatory approval. The option was issued with an exercise price of $0.185 per share, vests as to one third (1/3) immediately and one-third (1/3) on each of the first and second anniversaries of the grant date and has a five year term from the date of issuance.
For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.



Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release may contain certain forward-looking information and statements, including without limitation closing the Offering and obtaining regulatory approval for the Debenture. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen's disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.
 
#December 19, 2018
MARKSMEN ANNOUNCES OPERATIONAL UPDATE

 CALGARY, ALBERTA, December 19, 2018 -- Marksmen Energy Inc. ("Marksmen" or the "Company") is a 60% working interest partner in a Clinton Sandstone Horizontal ("CSH") well drilled in Hocking County, Ohio. The operator of the well is Hocking Hills Energy and Well Services LLC of Ohio. The Leaman #1 CSH well has been drilled and completed with a 12-stage hydraulic fracturing program.

The remedial work required due to technical difficulties encountered after the hydraulic fracturing program has now been completed in two stages. First, a service rig was used to set a whip-stock system at 3,222 feet and this was completed on November 15, 2018. Then on December 7, 2018 a top drive drilling rig completed milling through the casing and then commenced drilling of a new horizontal/lateral leg paralleling the original well bore. The well reached its total depth at 4,656 ft on December 18, 2018.

Marksmen is very pleased that the whip-stock and drilling operations have been completed successfully as follows:

• The new lateral leg was drilled parallel to and within 10 to 20 feet of the original lateral leg.

• The original 12 stage hydraulic fracturing program was confirmed by the fracture systems encountered all along the new lateral leg. This indicates that the new lateral leg has been successfully positioned in the hydraulic fractured Clinton Sandstone formation.

• Cutting samples, taken at regular intervals indicate oil fluorescence and fracture sand and there have been shows of oil to surface.

Marksmen is awaiting confirmation from the operator of the Leaman #1 CSH well to determine the timing to complete, production test and equip the well with production and surface equipment and then place the well on production.
By way of its agreement with the operator, the Company has interests in 5,500 acres of additional land with several potential Clinton Sandstone Horizontal well locations. The Company plans an aggressive drilling program in 2019 to fully develop the acreage and drill additional CSH well opportunities, subject to financing. Marksmen believes that the Clinton Sandstone has significant potential as a development play that will materially increase its oil production.

Marksmen would again like to thank our shareholders for their patience and understanding of the challenges that have been faced and endured by our Ohio team of professionals in drilling the Leaman #1 CSH well.

For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release may contain certain forward-looking information and statements, including without limitation the timing and success of the completion, testing and equipping operations. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen's disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.
 
#November 29, 2018
UPTICK NEWSWIRE'S STOCK DAY PODCAST FEATURES MARKSMEN ENERGY INC.'S CEO TO DISCUSS THEIR PIONEERING OHIO PROJECT FEATURING A HORIZONTAL WELL SETUP

 OTC Markets Group Inc. News Service

---
CALGARY, ALBERTA / ACCESSWIRE / November 29, 2018 / Uptick Newswire features, Marksmen Energy Inc. (OTCQB: MKSEF; TSXV: MAH) (The Company), an emerging energy company with an initial focus on exploring and developing light oil assets in Ohio, on their Stock Day Podcast. Archie Nesbitt, CEO and Director talked with host Everett Jolly about their efforts.

Jolly started off by welcoming Nesbitt back to Stock Day and mentioned it had been quite a while. Nesbitt explained the company has seen a few delays, but with the expertise now put in place they are about to turn a corner.

"We are looking forward to an exciting rebound by the end of the year," explained Nesbitt.

Jolly then asked Nesbitt about their new pioneering horizontal well. Nesbitt said they are drilling in a formation that has had no previous horizontal drilling setup.

"It's the most prolific producer of beautiful, light Pennsylvania crude, 42 API oil in the state of Ohio," he said. "It's a tremendous reserve where the 50-70 thousand old vertical wells got 3-5 percent of the oil. This was picked up by two of the significant oil companies and they started working on this a couple of years ago when we did and we are the only publicly traded company. The consensus of opinion is a horizontal well will produce 12 to 15 times the amount of oil a vertical well would produce."

Nesbitt says they have everything in place, with these experimental wells, to tap an extensive oil reserve. He says it's a spectacular opportunity and they will launch their drilling program in about 8 weeks.

Jolly then turned the conversation to private placement, saying that Marksmen has raised anywhere from $280,000 to $375,000. He asked what will be done with the money. Nesbitt explained the current drilling project has had extra expenditures and although they are cash flow positive, they elected to go to market and play to the over expenditures and had an oversubscribed private placement.

"The company is cash flow positive, but we want to keep it strong and we want to be able to pay our bills as they come due and not out of our future cash flow," said Nesbitt.

Jolly mentioned that December is approaching and wondered if the Marksmen team is concerned about drilling this time of year.

"No, we are ready to launch this," said Nesbitt. "In this game, you work 24/7, holidays and time off, you take that when you can grab it, but we are ready to launch this. We bring this well on production next month. We expect to have information on the well within 10 days."

Nesbitt said he wants the investors to know that his company has the best American engineering and geology team in Ohio that's in this program.

"It represents a fabulous investment opportunity for investors in a junior company that's going to build itself very quickly into a significant oil and gas producer," he said.

To hear the entire interview with Stock Day, listen here. https://upticknewswire.com/featured-interview-ceo-archie-nesbitt-of-marksmen-energy-inc-otcqb-mksef-3/

About Marksmen Energy Inc.

Marksmen is an emerging energy company with an initial focus on exploring and developing light oil assets in Ohio. We are bringing modern exploration technology to under-explored areas which have had significant historic oil production and which have not seen any concentrated industry activity for decades.

Marksmen's management team has extensive experience in the profitable development of old oil fields in Ohio and the identification of previously overlooked resource opportunities. Marksmen Energy plans to be an industry leader in Ohio.

For additional information regarding this news release please contact Archie Nesbitt, Director and CEO of the Company at (403) 265-7270 or e-mail ajnesbitt@marksmenenergy.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release, or the documents referenced may contain certain forward-looking information including without limitation the Company's drilling and operational plans and the timing thereof. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen's disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.

About Uptick Newswire and the "Stock Day" Podcast

Founded in 2013, Uptick Newswire is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Uptick provides companies with customized solutions to their news distribution in both national and international media outlets. Uptick is the sole producer of its "Stock Day" Podcast, which is the number one radio show of its kind in America. The Uptick Network "Stock Day" Podcast is an extension of Uptick Newswire, which recently launched its Video Interview Studio located in Phoenix, Arizona.

Investors Hangout is a proud sponsor of "Stock Day," and Uptick Newswire encourages listeners to visit the company's message board at https://investorshangout.com/

SOURCE:

Uptick Newswire

602-441-3474

https://upticknewswire.com/

SOURCE: Uptick Newswire



The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
 

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