Charlotte, NC, June 30, 2021 –(PR.com)– To best serve the interests of their shareholders, KLMKH, Inc. (PLFF) amended the original Definitive Merger Agreement dated January 29, 2021, to reflect an immediate authorization and issuance of additional shares for the purpose of completing the merger. The company will apply for the name change and stock split under the CUSIP 482512100, issued to KLMKH, Inc. post-merger.
The company recently initiated a process of updating and improving the current infrastructure of its oil fields. A new lift design and process is being implemented to update older oil fields in Kansas and has drastically improved the performance of the test well while dramatically decreasing lease operating costs in the initial production tests. A final piece of the system is set to be installed this month which should allow the company to bring 20-30 new oil wells online in 2021. The current output is averaging 30-50 barrels a day, which is expected to increase to 100-120 barrels a day by the end of the 2nd quarter.
The company is also in the exploratory stages of developing a cryptocurrency to be launched later in the year. While this endeavor is part of an ongoing process, the company sees cryptocurrency as a fixture of the markets for many years to come. Utilizing this platform will also position the company to achieve gains from this cutting-edge space, as the markets and KLMKH continue to evolve and diversify their revenue streams.
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About KLMKH, Inc.
KLMKH, Inc. is a privately-owned diversified energy company focused on the oil, gas, and solar industries. Headquartered in Charlotte, North Carolina, KLMKH is rapidly expanding operations through acquisitions and property leasing in the Midwest. KLMKH is maintaining its traditional focus on oil and gas exploration and production while expanding into solar production on its owned lands. KLMKH acquires and develops traditional oil and gas properties, many of which have “proven but undeveloped reserves” at the time of acquisition. Using up-to-date techniques and proprietary practices they resuscitate old wells using new technologies and marrying the old with the new. Our goal is to take decades-old fields and squeeze the viable reserves out of the wells not traditionally favored by larger producers. This strategy provides the company with the proven assets to develop and produce oil and natural gas with tremendously decreased risk, cost, and time involved in traditional exploration. More information about KLMKH is available at www.klmkh.com.
Statements herein express management’s beliefs and expectations regarding future performance and are forward-looking and involve risks and uncertainties, including, but not limited to, raising working capital and securing other financing, responding to competition and other risks. Actual results may differ materially from such forward-looking statements. The Company’s plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. Therefore, there can be no assurance that any forward-looking statement will prove to be accurate. The Company makes no undertaking to update such forward-looking statements.
KLMH, Inc. (PLFF)
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