“Oil prices are soaring, and Goldman Sachs predict crude oil $100 per barrel,” said Steve Stengell, Encore’s President CEO. The escalating demand and tight supply of oil along with the new administration’s energy policies are driving prices of both oil and natural gas to the highest levels in years. Encore has recently made oil and natural gas discoveries and is making plans to drill multiple horizontal wells and develop a natural gas pipeline system to sell natural gas in addition to crude oil. Qualified SEC defined accredited investors have the ability to deduct nearly 100% of their investment against all forms of income in the first year. is a full integrated and bond well operator in Kentucky that is targeting the horizontal Berea Sandstone oil and natural gas formation located in Lawrence County, Kentucky. (PRWEB) January 23, 2022Įncore Energy, Inc. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.BOWLING GREEN, Ky. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions adverse industry events future legislative and regulatory developments inability to access additional capital the ability of enCore to implement its business strategies and other risks. Forward-looking statements in this news release include, but are not limited to, statements relating to the intended use of the net proceeds of the Offering and the completion of any capital project or property acquisitions. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. The Rosita Plant has operated for 1,290 days without a Lost Time Accident and the Kingsville Dome Plant has operated for 2,662 days without any Lost Time Accidents.ġ Mineral resource estimates are based on technical reports prepared in accordance with NI43-101 and available on SEDAR as well as company websites at NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.ĬAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in this news release constitutes forward-looking statements under applicable securities laws. No additional permits are required to upsize capacity at the Rosita Plant.ĮnCore congratulates the team at the licensed Rosita Plant and Kingsville Dome Plant, both located in South Texas, for operating with phenomenal safety records. The capacity of the Rosita Plant has the potential to be increased to 2,000,000 pounds U 3O 8 with the primary expense being acquisition and installation of a larger second dryer that could range between $1.25 and $2.0 million. Simultaneously, enCore is commencing a cost benefit analysis to consider options for expansion of the current 800,000 pounds U 3O 8 production capacity at its Rosita Plant. All activities are on track and on budget for a projected 2023 production start. Wellfield installation will begin immediately following the submittal of the PAA data package to the TCEQ. Concurrently, monitor well installation, baseline water quality analysis, and hydrological testing will be completed as part of the Production Area Authorization (PAA) process with the Texas Commission on Environmental Quality. Following commissioning work the Plant will be ready to start receiving loaded resin. Once the modernization and refurbishment project is complete, enCore will commence commissioning work, expected to take approximately 30 days. enCore is also pleased to launch its first corporate video which can be viewed at: The Plant modernization and refurbishment is essential to the Company goal of becoming the next producer of American uranium. (" enCore" or the " Company") (TSXV: EU) (OTCQB: ENCUF) announced today that the refurbishment of its 100% owned Rosita In-Situ Recovery (ISR) Uranium Processing Plant (Rosita Plant) is presently 90% complete with an expected completion date in May 2022. CORPUS CHRISTI, Texas, Ap/PRNewswire/ - enCore Energy Corp.
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