Project Partner Lazy Jacks Petroleum Observes Strong Initial Daily Flow; Additional Wells Expected to be Brought Online Over the Coming Weeks
Dallas, Texas--(Newsfile Corp. - April 13, 2021) - Principal Solar, Inc. (OTC Pink: PSWW) ("Principal" or "the Company"), a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that preliminary production has commenced on the first wells activated in its initial oil well recycling program project with Lazy Jacks Petroleum ("Lazy Jacks").
"Today marks a significant milestone for Principal and our partnership with Lazy Jacks," said K. Bryce "Rick" Toussaint, CPA, MBA, Chairman and CEO of PSWW. "Lazy Jacks has confirmed that the first wells at our Danbury Dome project are now online and appear to be producing strong initial flow rates. The team is now preparing the next four wells on the property for startup, testing, and production, which we expect will occur within the next two to three weeks."
A variety of factors contribute to overall well production performance, including initial well pressures, equipment testing and operational status, and the tested quality/acceptability of the oil produced. Additional details, including normalized production rates and the wells' anticipated financial performance, are expected to be made available once the initial evaluation periods are complete.
About Principal Solar
Principal Solar is a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.
For further information, please visit the Company's website at www.pswwenergy.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW' hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs' control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWWs' most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.
Principal Solar Contact
K. Bryce "Rick" Toussaint, CPA, MBA
Chairman and Chief Executive Officer
kbt@pswwenergy.com
214.885.0032
Investor Relations Contact
Michael Briola
invest@pswwenergy.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80142
