@oilfieldservai Based on the images you posted it looks like the 25% interest in vision was collateral for the $725k guarantee to US Bank, which you assumed liability of in the merger agreement.
Did you assume liability of a debt thinking there was no collateral pledged?
@oilfieldservai A couple of things I think you should clarify:
The merger agreement grants Vision 50% of revenues on workovers and all revenues on base production. They must only pay admin costs while @oilfieldservai pays all capex and opex.
How is that different from what you allege now?
This is big: they outline that @oilfieldservai (Cohen’s contribution) is responsible for all operational costs and expenses and 100% of the Capex responsibility. Vision is effectively on the hook for admin costs and that’s it. So where do the revenues go?
I recently just published the memoir of my times spent with Josh Cohen. Here is a brief history of everything that went down since early December 2025. Since then I have gotten to know Josh better than my own wife. He is an amazing character and I am proud to have known him. He simply is one of a kind.
Let’s do a post-mortem on the Vision Oil/$Azrh merger agreement now that it’s dead. This was originally posted on $azrh’s OTC page back in June but I never noticed it.
This thing reads like a 7th grade Economics project that accidentally turned real
Stay with me until the end
$Azrh production for April posted on the Texas Comptroller website. Of the disclosed acquisitions, @oilfieldservai averaged 25 bopd for the month, all producing through one commingled tank battery and 2/3 leases are severed. Not great. Why aren’t they reporting this to the RRC