Neutral
Accesswire
3 days ago
Innovation Beverage Group and BlockFuel Energy Announce Completion of Independent Reserve Report and Multi-Phase Development Plan
Reserve Report Effective Date December 31, 2025, Prior to Field Reactivation Recompletion of Existing Well Bores Underway Plans to Drill Eight (8) New Vertical Wells in 2026 and Up to 20 New Vertical Wells in 2027 and 2028 Demonstrates Operational Progress in Central Oklahoma With 19 Wells Returned to Production SYDNEY, AU / ACCESS Newswire / April 30, 2026 / Innovation Beverage Group Ltd ("IBG" or the "Company") (NASDAQ:IBG), an innovative developer, manufacturer, and marketer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands, along with its proposed merger partner BlockFuel Energy, Inc. ("BlockFuel" or "BFE"), a Texas-based energy corporation, today announced the completion of an independent reserve report and outlined a multi-phase development plan for its Central Oklahoma oil and gas assets. The reserve report, effective December 31, 2025, was prepared during the period when operations across the asset base were temporarily shut-in.