Next Bridge Hydrocarbons issues a Friday press release loaded with positive news for our investment.
The company release announces positive news in the preliminary Johnson prospect 5-well drilling program.
The Johnson E23 #4 is a new field discovery in the Penn Sand formation and, we believe, it is the first viable conventional producer in the Texas portion of the Orogrande Basin.
NEXT BRIDGE PRESS RELEASE 1/19/24
Positive news was also conveyed on Johnson E15 which “showed comparable gas flares.”
The rest of the PR speaks of some reorganizing amongst senior staff and news directly to struggling shareholders.
Most notably, Greg McCabe has agreed to take on the role of CEO after the mutually agreed departure of Clifton DuBose. McCabe was serving as Chairman of the Board and is one of the largest shareholders of the company.
There’s also the amicable departure of Luke Hawkins, the CFO. He will be replaced with Roger Wurtele, who was the CFO of Torchlight Energy Resources, a name we are all too familiar with.
A new board member was also added.
Next Bridge is also pleased to announce the addition of Edward Pocock III to its board of directors. Mr. Pocock is a long-time shareholder, USAF veteran, and public servant with expertise in governmental relations. He is a retired 25-year veteran of law enforcement in the State of Connecticut, commanding both Patrol and Detective Divisions of his department before retirement. During Mr. Pocock’s tenure in law enforcement, he gained extensive investigative experience in a multitude of disciplines, including the investigation of embezzlement, fraud, theft, and the misapplication of funds.
NEXT BRIDGE PRESS RELEASE 1/19/24
Pocock’s background sounds a little interesting. Hmm. What might his first task be with Next Bridge? If only there was something out there that needed “investigating”?
The press release continues with a heartfelt outreach from Greg McCabe:
As we enter a new year for Next Bridge, Mr. McCabe and the Company continue to share the deep concerns of our shareholders regarding the circumstances surrounding the U3 halt of trading prior to the Next Bridge spinout and the unknown volume of uncovered short positions that may persist in our Company.
GREG MCCABE, CEO NEXT BRIDGE
The press release continues and talks about Next Bridge’s communication with FINRA and the discrepancy over the number of short positions FINRA claims versus what Next Bridge has been asked to possibly provide to brokers or short sellers.
WOW. Take in that last paragraph one more time!
We have offered to speak with FINRA and the SEC to discuss our data, and we also hope to receive clarity on the basis of their own conflicting data.
NEXT BRIDGE PRESS RELEASE 1/19/24
In addition to the above bombshells, the press release talks about Next Bridge hiring Johnny Tabacco and his firm to help reconcile the settlement issue with MMTLP.
“In pursuit of innovative and dynamic strategies, the Company has recently engaged John Tabacco and his consulting firm of Token Team, LLC. Members of Token Team led the first ever successful Public Digital Dividend on the blockchain, executed by Overstock.com subsidiary Tzero, and Token Team will help Next Bridge fully understand all facets and consequences of a potential listing on a blockchain trading platform.”
This mention about blockchain certainly does tend to suggest some type of protective trading or dividend disbursement might be sought.
Ali from Trading Secrets highlights one additional McCabe quote that ties in with our massive Congressional outreach.
And as if it couldn’t get any better than that, McCabe closed out the PR with the following statement directly speaking to shareholders:
“I would like to personally thank all Next Bridge Hydrocarbons shareholders and the entire “MMTLP ARMY” for your efforts in making sure that our story is told. Because of these efforts, the light is now shining bright on this serious problem. I am also thankful for the time and effort of the many concerned State and Federal Congressional representatives who have worked diligently to help find answers to this untenable situation.”
GREG MCCABE, CEO, NEXT BRIDGE
With Next Bridge seemingly now being this open, transparent and helpful to shareholders, it’s our opinion that we could see a much quicker resolution to this fiasco.
THANK YOU NEXT BRIDGE, for dealing with this issue head-on as we enter into our 2nd year of frozen funds and unsurety of authentic Next Bridge shares.