 Well, hello everyone. This is Byron King with Investor Intel. Today we are talking with Mark Varney of Wedgemount Resources. Wedgemount is a very new oil play that works in the Central Texas, kind of slightly West Texas part of oilfield country. Classic old oil country. It's been that way for a hundred years. Lots of vertical wells drilled with these kind of rotary bits. Not a lot of fracking and directional drilling, whatever. Interesting business model to grow production. Mark, you're a new operation. We've talked about your company before in another of these Investor Intel interviews, but you've just put out some brand new news. So what is the news that you want to get out there to the viewers of the Investor Intel site here? All right. Well, thanks, Byron. We're happy to be here giving an update today. So we had some news out today, which we think is very significant for shareholders and potential new shareholders of Wedgemount. As we pressed release a little while ago, our asset number one was the Willow Bend project, which is about 40 minutes south of the town of Abilene, Texas. Again, this is conventional oil and gas, historic vertical wells, and it's really part of our strategy of rolling out and optimizing, developing, and focusing on underexploited reservoirs. That's what Willow Bend is about right here. And when we picked up the Willow Bend asset, when we signed the PSA at the end of 2022, the field was averaging in the fourth quarter of 2022 about 25 BOEs per day of production. We went in and started our initial program on existing producing wells in late January of 2023. And all we've done today, we selected three wells of the 11 producers in the field, and we did chemical treatments of the wellbores and of the formation. So we're really injecting chemicals under pressure wellbores into the formations. We shut the wells off, let the pressure build up, and then we turned them on about five days later. Our most recent average production from the field now is 104 BOEs per day. And again, that's with only treating three of the 11 wells. So quadrupling production, again, we were kind of hoping we could get double or triple, but we quadrupled production here. And we have not even done the well workovers yet. We've only done the chemical treatments. The other really important factor here with all that growth is we did it for $45,000 US. That's total cost of the treatments today. So we're growing production at extremely economic rates. So we were really excited to let people know about that today. Well, frankly, that's really exciting. I'm an old petroleum geologist from way back, and I showed everybody my drill bit here that I have sitting on my desk. That's exciting. You took 25 BOE barrels of oil equivalent, and you turned it into over 100. So that's a quadruple. That's a 4X. And for those out there who aren't deep scholars in the oil patch or whatever, when we talk about the oil wells tend to crud up with paraffin, which is a fancy word for wax or asphaltines, which is sort of what it sounds like. It's the heavy, cruddy oil that they make asphalt out of, which they put onto your streets and roads and such. So you chemically went down there. You cleaned that dup out with chemical treatment and under pressure. And you haven't even done the workover yet, which is that's a whole nother operation to kind of clean up the well. So you quadrupled it in a very short amount of time. For 45,000 bucks for three wells. Okay, I'm impressed. Where is it going from here? What are you, what else are you going to do? Yeah, the next part of the plan we actually start next week, it was in today's press release next week, we're going to hit the next three wells. We'll do the, again, the well and formation chemical treatments. And by the way, these are proprietary chemicals. Our partner Petrosaurus, their CEO, Heidi Flag, has a chemistry background and she's been developing these chemical specifically for these types of reservoirs in West Texas for over 20 years. So we feel like we do have an advantage versus just off the shelf chemicals. Anyways, next three treatments are going to happen starting next week. Then we'll wait for about a week for testing and bringing those wells back on. And then as we get into March, we'll do the balance of the well. So all 11 producers will be chemically treated by the end of March. And then our injector well, we have one injector well, the 12th well in the field, we're also going to treat the injector well. So that's what the rollout looks like. Again, we anticipate the cost per well per treatment is $15,000 US. And then as you touched on it, and I think, you know, showing people what the further upside is here is that we haven't done the well workovers yet. We will have, at the beginning of April, a service rig on site to do well workovers for all the pumps on all the wells, which have really been neglected over the last 10 years or so because the operator we bought it off was somewhat financially distressed. So we should get a fair bit more growth. We're very optimistic that we can, you know, add significantly more production just on this initial acquisition of ours. Well, that's your business plan, isn't it? That you're going to go around to these distressed wells. And these are not Exxon's wells or Chevron's wells. This is just like Farmer Jones and Farmer Smith and Farmer Brown with his wells. And the guy doesn't have enough money or the family doesn't have enough money to really keep them as well maintained as you would like. And you're working with the owners to acquire the rights. And then you improve the wells and you're going to be ramping up output overall for the whole wedge mount enterprise. That's the idea, right? Exactly. You hit the nail on the head here. We're not trying to reinvent the well work. We're trying to use modern best practices on older wells in an area that's very well understood, conventional reservoirs, very understood. This area has had a lot of activity the last 60 or 70 years. So these are older wells that they basically just need work. And you've used the analogy before. You have an old car sitting in the barn and nobody's touched it in 17, 20, 25 years. And now you want to take it out on the road. It's going to need some work before you can really gun it up. But once you do it, the car will ride pretty good, right? Yeah, that's right. Like on our Willow Bend acid, the average age of the wells is about 16 to 17 years. So they're not super old wells. And before we bought it, we obviously, as part of our due diligence on it, we checked the integrity of the well boards and the cement jobs and everything else from A to Z. They were in very good shape, but they had just really been neglected, right? It's like you've never taken your car in for a wheel limer and an oil change or anything like that. There's no difference here, right? It's we're using best practices to optimize these wells. And again, that is just the starting point on this field. What I would also mention, because people always ask me about what's the blue sky growth here, right? We know you can do this. You can grow production here. But there's also the zone we're producing from is called the garden. It's about 4,200 feet deep. So not super deep for Canadians out there. It's about 1,300 meters. There is a whole bunch of upper zones of bypass pay that have had historic production, generally limited historic production. That if again, if we use our modern best practices, all these wells we, sorry, a multitude of these formations, we know our oil bearing and we will perf a bunch of those zones later in 2023. So not only to have our existing production that are ramping up, but there's a bunch of bypass pay where we think there's even more potential than the zone we're currently focusing on. And again, just for people who aren't familiar with the oil patch and the technology out there, the difference in technology today, just in terms of well logging versus picking number 20 years ago, 30 years, 50 years. I mean, it's just absolutely spectacular in terms of the signal processing and the artificial intelligence that goes into massaging the well log. So yeah, you may have some existing wells that are really just waiting for the service companies to lower those little perforation devices down there and blow holes in the steel and the concrete and just pull some more oil in there. So there's a lot of production upside to what you're doing is what we're saying, right? Absolutely. And what I will tell you, the thing that initially attracted us to the area was not the zone we're producing from, which we think has a ton of potential, but was for this, these upper bypass pay zones. For example, there's one zone that's about 3,600 feet is called the crosscut. It stretches for over 10,000 acres in our core area. There was one historic producer in the crosscut zone, which came on at 120 barrels a day about 40 years ago. It cued about 40,000 barrels in total. And that zone was pretty much ignored exactly because of what you said, Byron, they just didn't have the technology to properly analyze the zone. The logging was poor, the understanding of porosity and permeability and all those technical engineering factors was poor. Based on what we know now, we've mapped 36 million barrels in place. And we think on a primary recovery, we can probably get 10 to 12%. And it's also potential for a water flood down the road. And that's just one of a multitude of these bypass pay zones that will be the real blue sky for Wedge Mount. Once we ramp up the existing production, that's probably more of a Q4 2023 and into 2024. We're going to tap some of those zones and see if we can really grow to the next level. You know, you're on the right track. Okay, everybody out there and invest your Intel land, you've been watching Wedge Mount resources. Take a look at this one. It's brand new. It's definitely not over marketed, not yet. And you're looking at growing barrels in a solid oil market in classic, you know, classic central Texas oil field country. So, you know, just get out there and the wells are drilled even, it's even better. You know, none of that, none of that risk. So thank you so much, Mark. We wish you well, you and your team. Thanks, Byron. I really appreciate the time.