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Friday, December 2, 2022

Mdm Permian Inc (OTCMKTS: MDMP) Steady Rise Northbound as Permian Basin Oil Operator Set to Drill Lindley #4-A Well

Mdm Permian Inc (OTCMKTS: MDMP) is moving higher in recent trading on a surge of volume as the price of oil continues to climb. MDMP traded over $1 million in dollar volume on Tuesday alone as the stock begins to get noticed by small cap investors. Starting off at a nickel at the beginning of February MDMP has risen to highs over $0.20 per share. Microcapdaily reported on MDMP in March of 2021 when the stock went into full beast mode rocketing up the charts after the Company reported it has over 20 million barrels of oil in the ground. 

MDMP has a lot going on and has been busy updating shareholders both in press releases and on twitter. On Tuesday the Company announced plans have been completed to begin the drilling of the Lindley #4-A well in Irion County, Tx. The Lindley #4-A well location is currently permitted to a depth of 2000 ft. targeting the prolific San Angelo Sands. The Lindley #A-4 location is a direct offset to the #A-3. The expected section is 30 ft. thick and shows high permeability and oil saturation. NuTech analysis indicates that the zone has the potential for over 100,000 BO over the life of the well. MDM Permian, Inc. will provide more updates as drilling of this exciting well begins. 

Mdm Permian Inc (OTCMKTS: MDMP) operating out of Carrolton, Texas, is an energy company with interests in oil and natural gas wells, mineral prospects. The Company’s business plan includes building value through reserves and production in the Permian Basin of Texas. MDM Energy, Inc. the Company’s subsidiary has been actively involved in the oil and gas industry since 1981 with offices located in Carrolton, Texas.  

The Company is led by CEO Michael Rafael who has spent decades in the oil and gas industry and has been directly involved in the drilling, completion, and operation of over 300 oil and gas projects, primarily in the Illinois Basin, and directly supervises and oversees field operations. Mr. Rafael works directly with contract geologists, petroleum engineers and geophysicists from start to finish.   

MDM Energy, Inc. is a wholly owned subsidiary operating company of MDM Permian. MDM Energy, Inc. was incorporated in the state of Texas in 1981. The company has drilled over 125 oil & gas projects in the Illinois Basin over the last decade and had been involved in all aspects of oil and gas development in the basin for over 35 years. As founder and President, Michael L. Rafael has led the company since inception and takes an active, hands-on approach to the business. Mr. Rafael has been directly involved with the drilling and or completion of over 350 oil and gas projects in Illinois, Kentucky and Texas. 

The Company has significant reserves over its 25 square mile area of interest. Lee Kecik, a Petroleum Engineer with Ecco Petroleum, Inc. did a preliminary assessment. Lee’s report estimated that up to 84 million barrels of recoverable oil was still available for harvest. Lee recently updated that report by thoroughly assessing the San Angelo sands in the area. Lee’s report indicates that the San Angelo could add up to 19 million barrels of original oil in place per 640-acre section. ‘Assuming a 15% recovery factor, this could be a very considerable addition to the overall reserve base for this field. 

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On March 8 MDMP announced plans have been completed to begin the drilling of the Lindley #4-A well in Irion County, Tx. The Lindley #4-A well location is currently permitted to a depth of 2000 ft. targeting the prolific San Angelo Sands. A Tinsley Drilling Company rig is scheduled to move onto the location during the last week of April. The location is very small with rock is at the surface, so steel pits will be utilized and provided by Tinsley. Hot Splash Mud Co. will supply the drilling fluids and PSI Wireline will provide logging services. 

NuTech Energy has provided an impressive log analysis and an Advanced Reservoir Characterization of the target zone on the nearby Lindley #A-3 well, which was drilled in 1984, produced from the Canyon Sands at a depth of 6700 ft. and recently plugged due to shallow casing leaks and poor casing integrity. 

The Lindley #A-4 location is a direct offset to the #A-3. The expected section is 30 ft. thick and shows high permeability and oil saturation. NuTech analysis indicates that the zone has the potential for over 100,000 BO over the life of the well. MDM Permian, Inc. will provide more updates as drilling of this exciting well begins. 

 

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MDMP is moving higher in recent trading on a surge of volume as the price of oil continues to climb. MDMP traded over $1 million in dollar volume on Tuesday alone as the stock begins to get noticed by small cap investors. Starting off at a nickel at the beginning of February MDMP has risen to highs over $0.20 per share. Microcapdaily reported on MDMP in March of 2021 when the stock went into full beast mode rocketing up the charts after the Company reported it has over 20 million barrels of oil in the ground. MDMP has a lot going on and has been busy updating shareholders both in press releases and on twitter. On Tuesday the Company announced plans have been completed to begin the drilling of the Lindley #4-A well in Irion County, Tx. The Lindley #4-A well location is currently permitted to a depth of 2000 ft. targeting the prolific San Angelo Sands. The Lindley #A-4 location is a direct offset to the #A-3. The expected section is 30 ft. thick and shows high permeability and oil saturation. NuTech analysis indicates that the zone has the potential for over 100,000 BO over the life of the well. MDM Permian, Inc. will provide more updates as drilling of this exciting well begins. We will be updating on MDMP when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MDMP.

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Disclosure: we hold no position in MDMP either long or short and we have not been compensated for this article.

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