SPINDLETOP OIL & GAS CO. Declares Board Overview of Strategic Options

Spindletop Oil & Fuel Co. (The Firm) (OTC:SPND) in the present day introduced that its Board of Administrators has initiated a overview of strategic options to try to reinforce shareholder worth. Strategic options might embody a potential sale of all or a fabric portion of property, both in a single transaction or in a collection of transactions, a merger of the Firm or different type of enterprise mixture involving the Firm and a 3rd celebration, the acquisition of extra property or the outright sale of the Firm or recapitalization of the Firm.

No definitive timeline has been established for this course of and there might be no assurance that the strategic options overview course of will end in a transaction or different strategic change or end result. The corporate doesn’t count on to debate or disclose additional developments relating to the strategic options overview course of except and till its Board of Administrators has accepted a particular plan of action or the Firm has in any other case decided that additional disclosure is acceptable or required by regulation.

About Spindletop Oil & Fuel Co.

Spindletop Oil & Fuel Co. (OTC:SPND) is a publicly traded firm engaged within the exploration, improvement, and manufacturing of crude oil and pure fuel in the USA.  The Firm operates oil and pure fuel wells in a number of states with a big focus of manufacturing in Texas. For extra info, contact Chris Mazzini, President, at cmazzini@spindletopoil.com or go to www.spindletopoil.com. Data on such web site referred above on this press launch will not be integrated by reference into this press launch.

This press launch accommodates “forward-looking statements” inside the that means of Part 27A of the Securities Act of 1933, as amended, and part 21E of the Securities Alternate Act of 1934, as amended. All statements aside from statements of historic information are forward-looking statements. Ahead-looking statements embody info regarding our enterprise methods, strategic options overview course of, plans and aims, market potential, future monetary efficiency, deliberate operational and product enhancements, liquidity and different issues. These statements typically embody phrases akin to “imagine,” “count on,” “challenge,” “anticipate,” “think about,” “discover,” “potential,” “intend,” “plan,” “estimate,” “goal,” “search,” “will,” “might,” “would,” “ought to,” “might,” “forecasts,” “mission,” “try,” “extra,” “aim” or related expressions. Ahead-looking statements are based mostly on our present expectations, beliefs, estimates, projections and assumptions, based mostly on our expertise within the trade in addition to our perceptions of historic developments, present situations, anticipated future developments and different components we predict are acceptable. These statements are expressed in good religion and we imagine these judgments are cheap. Nevertheless, it is best to perceive that these statements usually are not ensures of efficiency or outcomes. Our precise outcomes and strategic actions might differ materially from these expressed within the forward-looking statements. Given these uncertainties, forward-looking statements shouldn’t be relied on in making funding selections.

Ahead-looking statements are topic to numerous dangers, uncertainties and different vital components, lots of that are past our management that might trigger our precise outcomes and strategic actions to vary materially from these expressed within the forward-looking statements contained on this press launch. For an in depth dialogue of many of those and different dangers and uncertainties, see our Annual Report on Kind 10-Okay for the interval ended December 31, 2020, our Quarterly studies on Kind 10-Q for the three-month durations ended March 31, 2021, respectively, our Present Reviews on Kind 8-Okay and our different filings with the Securities and Alternate Fee. All forward-looking statements contained on this press launch are certified by these cautionary statements. The forward-looking statements contained on this press launch converse solely as of the date of this press launch. We undertake no obligation, aside from as could also be required by regulation, to replace or revise any forward-looking or cautionary statements to replicate adjustments in assumptions, the prevalence of occasions, unanticipated or in any other case, or adjustments in future working outcomes over time or in any other case. Comparisons of outcomes between present and prior durations usually are not supposed to precise any future developments, or indications of future efficiency, except expressed as such, and may solely be considered as historic knowledge.

The forward-looking statements on this press launch are supposed to be topic to the protected harbor safety offered by the Federal securities legal guidelines.

Supply: Spindletop Oil & Fuel Co.