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SSOF Sixty Six Oilfield Services Inc (CE)

0.0001
0.00 (0.00%)
29 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Sixty Six Oilfield Services Inc (CE) USOTC:SSOF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0001 0.00 00:00:00

Letter from the President of Medically Minded, Inc. announces direction for expansion amid industry growth.

18/04/2017 1:00pm

InvestorsHub NewsWire


 

Letter from the President of Medically Minded, Inc. announces direction for expansion amid industry growth

 

OKLAHOMA CITY, OK -- APRIL 18, 2017 -- InvestorsHub NewsWire -- MEDICALLY MINDED, INC. (OTCPink: MMHC) (the "Company"), now named Sixty Six Oilfield Services, Inc. announces corporate direction for expansion. After completing the acquisition of 66 Oilfield Services, LLC on March 14, 2017, James Frazier, President and Chief Financial Officer the Company, said: We have submitted an application to the Financial Industry Regulatory Authority for a market announcement of the Companys legal name change to Sixty Six Oilfield Services, Inc. and a change of our ticker symbol to reflect the new legal name. The Company has requested and received a new CUSIP number.

 

Mr. Frazier further remarked: As the oil equipment industry evolves, we are excited by the opportunity to grow, expand and become an even larger player in the market. We are diligently working on preparing a Form 10 for filing with the SEC that we expect to engender an improvement in the Companys market position. While we pursue the Form 10 registration statement process, we will maintain our focus on growing our core business of sourcing, selling and renting oil field equipment.  

 

The Company is now a third-generation heavy oil field equipment company founded by J.C. Houck in Oklahoma in 1959. The Company is focused on supplying the oil industry with custom drilling rigs, heavy-weight drill pipe, drill collars, pup joints, pony collars, handling tools, tubing, casing, blow-out preventers, engines, compressors and other select equipment to customers world-wide through our facilities in Oklahoma City, Germany and Dubai. The acquisition of 66 Oilfield Services, LLC is expected to enable the Company to grow faster with better access to the capital market. Mr. Frazier explained: We believe that the new administration will be a positive force for the oil production industry. Our plan is to substantially increase Company value through an expansion of services and acquisition, resale and lease of more equipment for the oil drilling industry. This move will allow our strong management and executive team to rapidly grow the Company with our proven technical and logistical track record of high performance.

 

The future for oilfield equipment growth has a positive outlook. According to the U.S. Energy Information Associations Short-Term Energy and Summer Fuels Outlook report, U.S. crude oil production averaged an estimated 8.9 million barrels per day (b/d) in 2016. U.S crude oil production is forecast to average 9.2 million b/d in 2017 and 9.9 million b/d in 2018. EIA expects oil prices in 2017 to be about $10 higher per barrel than they were last year. In February 2017 Jude Clemente at Forbes.com said: In fact, the U.S. oil and gas industry is expected to boost spending this year by about 35%, and rig counts continue to climb. Since the OPEC production cut deal end-November, our oil rig counts have increased by 125, and at 602, are at their highest levels since October 2015. The feeling is that OPEC and its non-OPEC partners will agree to another cut starting in July.

 

The Company is preparing to engage an independent accountant to audit its 2015 and 2016 financial statements.  Upon completion of the audits, the Company intends to file a Form 10 registration statement with the Securities and Exchange Commission, within 60 days, to become a fully reporting company.

 

For more information please visit www.66oilfield.com.

 

SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may", "would", "will", "expect", "estimate", "anticipate", "believe", "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company's reports filed with the SEC. The Company is not eligible to rely on the safe harbor provided by Section 21E(c) of the Exchange Act because it is not subject to filing periodic reports under Sections 13 or 15(d) of the Exchange Act.

For more information, contact:
Jim Frazier, President
Jim@66oilfield.com
info@66oilfield.com
405.735.6666
855. DRL.PIPE (375-7473)

Only information that is publicly available will be provided.

 

 



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