Bayport International Holdings, Inc. ($BAYP) Announces Plan to Divest Its Oil and Gas Assets

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Bayport International Holdings, Inc. ($BAYP) Announces Plan to Divest Its Oil and Gas Assets

Post by Admin on Wed Oct 11, 2017 7:43 am

Bayport International Holdings, Inc. (OTC Pink: BAYP) Bayport announced it is looking to divest its oil and gas interests to become a more productive leader within the Cannabis Technology industry. Bayport lists some of the oil and gas assets that the company is currently looking to divest. More due diligence and prospective will be provided in the near future.

1. Trawick Gas Unit 21, (Trawick Gas Field), Nacogdoches County, Texas. BAYP owns Royalty Interest. Info on the wells can be found on the Texas Railroad Commission website. The operator for this unit is the Exxon Mobil Corporation.

2. Star Duster No. 1 Gas & Oil Well, Nacogdoches County, Texas. BAYP owns Royalty Interest. Lease ID 225303 Info on the wells can be found on the Texas Railroad Commission website. The operator for this unit is the Sonerra Resource Corporation.

3. J. H. Wade Oil Well Field Name (PHANTOM LAKE (TANNEHILL) Jones County, Texas. BAYP owns Royalty Interest & Overriding Royalty Interest. Lease ID 11407 Info on the wells can be found on the Texas Railroad Commission website. The operator is Schkade Bros. Operating Company.

4. Baker 1H Gas Well, BAYP owns Royalty Interest in Lease ID 263188 & API number 347-33238 per Texas Railroad Commission. Operator is Eog Resources, Inc. The field name is Hayneville Shale, a major natural gas field in the United States located in the East Texas region. Since November 2011 to August 2013 production number per MCF is 1,821.380.

5. 5.0% working Interest and 3.75% net revenue in a new drilling program in the Steffelbeam Lease, Forest County, Pennsylvania. The contract is for wells with permit numbers 1, 2, 3 and 4, which have been submitted to Pennsylvania Department of Environmental Protection (PA DEP) and approved.

In late 2016, Bayport International Holdings, Inc. announced that it would be transitioning from oil & gas to the cannabis technology business. The cannabis technology market is on track to see massive growth, as legalization and decriminalization further takes hold. Todays announcement is a major step in the transition to being a fully-focused cannabis technology company. Currently, Bayport is in the process of developing its Weedwiser digital cannabis directory platform and actively evaluating acquisition opportunities within the cannabis technology industry. Bayport will provide further details on its oil & gas divestment and cannabis technology developments in the coming weeks.

About Bayport International Holdings, Inc. (OTC Pink: BAYP):
Bayport International Holdings, Inc. is a holding company active in Oil & Gas, strategic metals, precious minerals and energy production. The Company is also pursuing opportunities in the legal cannabis industry, through the Weedwiser.com digital platform. Furthermore, the company is currently evaluating cannabis technology acquisition opportunities. Learn more about Weedwiser by visiting www.weedwiser.com. The objective of the company is to provide diverse, yet practical investment opportunities to its shareholders. For more information, visit our website at www.bayportholdings.com.

Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Bayport International Holdings, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Bayport International Holding’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Bayport International Holding’s filings with the Securities and Exchange Commission.
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