Verde Bio Provides Fiscal Year End Shareholder Update; Highlights Corporate Successes and Objectives

Growing oil and gas company, Verde Bio Holdings, Inc. (OTC: VBHI), has provided a fiscal year end corporate update as it continues to execute on its growth strategy.

Verde Bio Chief Executive Officer, Mr. Scott Cox, said, “The past year transformed Verde into a true oil and gas company with tremendous opportunity with a proven strategy to capture it. We continue to be very bullish on oil and gas and the future of Verde as a growing and profitable company. We are very excited as we embark on a new year.”

Highlights

  • Verde Bio increased revenue by over 29% from the same time last year, acquired over 18 revenue producing properties and decreased overall expenses, excluding one-time charges.
  • Total reserves were up to $2.95 million based upon SEC required pricing at $89/bbl oil and 5.67/mcf of Natural Gas, a ~11% increase from last year (as of 4/30/2023).
  • The company’s current portfolio includes revenue producing interest in over 400 wells under Operators such as, SWN Energy, EOG, Civitas, Ovintiv, Aethon, Ascent, Chesapeake, Petro Operating and others.
  • The company realized a net loss of $1,639,926 compared to a 2022 net loss of $3,150,120, a ~48% decrease year over year.
  • The company ended the fiscal year with no outside long or short term debt and carried out strategic divestitures of non-core lower performing assets.

About Verde Bio

Verde Bio Holdings, Inc. (OTC: VBHI) is an Energy Company engaged in the acquisition and management of Mineral and Royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests. www.verdebh.com

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Verde Bio Provides Fiscal Year End Shareholder Update; Highlights Corporate Successes and Objectives

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