MDM Permian, Inc. announces a $500,000 capital injection into Essence Wells, LP

MDM Permian, Inc., acting as the managing partner of Essence Wells, LP, has disclosed securing a $500,000 financing from two accredited individual investors. This fundraising is conducted through a 506 C Reg D offering, aiming to generate revenues through the wells for the benefit of investors and MDM as the managing partner.

MDM stands as one of two managing partners of Essence Wells, LP, overseeing the partnership's day-to-day management. This financing underscores MDM's confidence in the projects outlined in the Reg D offering, with an additional investment coming from FireDream Resources, LLC. The capital will be used for the refurbishment of an existing well in the East Texas basin, with significant initial production forecasts.

Simultaneously, another project in the Permian basin will also be reviewed, with production estimates based on comparable wells in the region. Mark Warner, President and CEO of MDM Permian, expresses excitement in utilizing this capital to significantly enhance value for shareholders, minimizing dilution of ownership stakes.