Electra, Texas, December 02, 2022 -- Xfuels Inc. (OTC Pink: XFLS) is pleased to report that Cycle Oil & Gas began overseeing operations in their Wichita County field effectively on July 1st, 2022, through the purchase of leases & property from Triple “S” Gas & Ray Loveless Enterprises. Cycle Oil & Gas contracted OAG Consulting Inc. of Fort Wort, Texas to conduct due diligence prior to purchase & manage their Texas operations after the purchase and sale agreement was completed. When Cycle was handed operational duties, they were met with a variety of challenges from the distressed assets. Production across all 17 leases was ~7bpd with most of the wells labeled “inactive” or “shut-in” by the TXRRC’s standards.
