Lightning Ventures has executed a binding letter of intent (LOI) with Servicios Intergrales Tamabra (Tamabra) to lease natural gas pumping equipment.
Image: Lightning Hot Oil Trailer. Photo: courtesy of CNW Group/Lightning. Ventures Inc.)
The formal contract is in the process of being completed with execution to occur no later than June 15, 2018.
Under the terms of the LOI, the Company will provide gas-pumping units, check valves, and power fluid vessels on a 36-month lease with a total lease revenue of US$3,194,452.00.
Servicios Integrales Tamabra is a well-established Mexican company with headquarters in Poza Rica, Veracruz. Tamabra specializes in equipment and services for optimizing production in oil, gas, or geothermal wells. Tamabra is certified under ISO 9000, 14000 and SASST-001.
Don Rainwater, Lightning CEO, commented: “The agreement with Tamabra allows us to expand our product lines and, once fully implemented over the course of the next 6 months, the generated revenue will provide expansion capital for additional markets.”
Source: Company Press Release.