Infinity Energy Resources appoints John Loeffelbein as COO
Infinity Energy Resources announced that it has appointed John Loeffelbein as its COO. As COO, Loeffelbein will help lead Infinity's expansion into domestic exploration and development projects, principally the completion of the purchase of existing production and mineral rights to oil & gas properties in Central Kansas that cover over 11,000 contiguous acres. The purchase will include the existing production equipment and access to existing 3-D Seismic Data on the acreage. The Properties acquisition includes one existing horizontal producing well, one horizontal saltwater injection well, two conventional saltwater disposal wells, and one conventional, vertical producing well producing from the Reagan Sand Zone from an approximate depth of 3,600 feet. The acquisition is expected to close prior to December 31, 2019, subject to the Company obtaining adequate financing. Loeffelbein will assist in the Company's capital raising activities to obtain the funds required to close the purchase of the Properties and execute its exploration and development program. The exploration and development program will include the drilling of at least six conventional production wells following the closing of the acquisition, subject to obtaining sufficient financing. Mr. Loeffelbein is a member of Core Energy, LLC, the owner of the Properties.