JP3E Holdings, Inc. (OTC: SPZI) executed an MOU with Kerogen Resources, LLC, to establish a subsidiary, Kerogen Resources II, LLC, majority-owned by JP3E, focused on unconventional U.S. shale assets. This includes a $330M cash commitment via a joint venture with Öztürk Holding, LLC, targeting Smart Park development in Clearfield, Pennsylvania. Following drilling and production, JP3E will retain 50% of sales proceeds.
JP3E Secures $330M Commitment with Öztürk Holding and Kerogen Resources to Develop Unconventional Shale Assets