Arizona Tribune - Azure Holding Group Corp ($AZRH) Forms Joint Venture with Mountain V, Begins First Phase of Natural Gas and Oil Drilling Program

NEW YORK CITY, NY / ACCESS Newswire / March 31, 2025 / Azure Holding Group Corp. (OTC PINK:$AZRH, being renamed American Industries) and Mountain V Oil & Gas have officially formed a joint venture.

Appalachian Mountain Energy, the joint venture, will drill new wells and rework existing wells owned and operated by Mountain V Oil & Gas across all 300,000 surface and mineral acres across the Appalachian Basin and Permian Basin that are currently held by production by Mountain V Oil & Gas.

The timing of this joint venture couldn't be better, as natural gas prices have shown price strength and stability over the past 2 quarters, and for the foreseeable future at above $4.00 an MCFE, and as Oil remains steady above $68.00 per barrel of WTI Crude.

Mountain V Oil & Gas is a large private Super Independent Operator focused on the Appalachian Basin and Texas, with over 3,600 operated wells in active production across it's 300,000 mineral and surface acres. The company recently celebrated its 30 year anniversary.

Together, through the joint venture Appalachian Mountain Energy, both groups will pursue a natural gas drilling program, whereby Mountain V will serve as the operator, and American Industries will provide the capital through a registered offering.

"Getting to partner with a team like Mountain V Oil & Gas on their next drilling program and on their future acquisitions is a child hood dream come true. As an operator myself, I am excited to learn from Mike Shaver, and build generational wealth for all of our shareholders," said Josh Watson.

"When I was growing up in Pittsburgh, Pennsylvania my grandpa always told me that if I wanted to make money, I'd better get into Oil & Gas in West Virginia and Kentucky," said Josh Cohen.

The group is in the late stages now of finalizing the planning on the first tranche of its drilling program, which will target shallow Vertical wells at an average depth of 4,000 to 4,500 feet in the Big Lime.

"I like the acreage Mountain V has in South Eastern Kentucky and in the Permian Basin," said Cohen. "There's Oil and Wet Gas everywhere, all 300,000 acres is full of oil, propane and butane, and by 2027 we believe we will be in a position to establish our own Rack in Pennsylvania."

About Azure Holding Group
Azure Holding Group Corp. is an acquisition corporation focused on Oil Field Services and Construction, Oil & Gas Exploration & Production, and Oil & Gas Distribution. Azure Holding Group Corp. has completed Reverse Mergers with the following companies: American Industries, Freedom Well Testing, and Oil Field Services AI. The Company has completed a Joint Venture with Coil Tubing Technologies. The Company is currently evaluating mergers with several other companies.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about Azure's expectations, beliefs, plans or forecasts. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including, but not limited to: any projections of earnings, revenue or other financial items or future financial position or sources of financing; any statements of the plans, strategies and objectives of management for future operations or business strategy; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Words such as "estimate," "project," "predict," "will," "would," "should," "could," "may," "might," "anticipate," "plan," "intend," "believe," "expect," "aim," "goal," "target," "objective," "commit," "advance," "likely" or similar expressions that convey the prospective nature of events or outcomes are generally indicative of forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release unless an earlier date is specified. Unless legally required, Azure does not undertake any obligation to update, modify or withdraw any forward-looking statements as a result of new information, future events or otherwise.

Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties. Actual outcomes or results may differ from anticipated results, sometimes materially. Factors that could cause results to differ from those projected or assumed in any forward-looking statement include, but are not limited to: general economic conditions, including slowdowns and recessions, domestically or internationally; Azure's indebtedness and other payment obligations, including the need to generate sufficient cash flows to fund operations; Azure's ability to successfully monetize select assets and repay or refinance debt and the impact of changes in Azure's credit ratings or future increases in interest rates; assumptions about energy markets; global and local commodity and commodity-futures pricing fluctuations and volatility; supply and demand considerations for, and the prices of, Azure's products and services; actions by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producing countries; results from operations and competitive conditions; future impairments of Azure's proved and unproved oil and gas properties or equity investments, or write-downs of productive assets, causing charges to earnings; unexpected changes in costs; inflation, its impact on markets and economic activity and related monetary policy actions by governments in response to inflation; availability of capital resources, levels of capital expenditures and contractual obligations; the regulatory approval environment, including Azure's ability to timely obtain or maintain permits or other government approvals, including those necessary for drilling and/or development projects; Azure's ability to successfully complete, or any material delay of, field developments, expansion projects, capital expenditures, efficiency projects, acquisitions or divestitures; risks associated with acquisitions (including our anticipated acquisition of Button Energy), mergers and joint ventures, such as difficulties integrating businesses, uncertainty associated with financial projections, projected synergies, restructuring, increased costs and adverse tax consequences; uncertainties and liabilities associated with acquired and divested properties and businesses; uncertainties about the estimated quantities of oil, NGL and natural gas reserves; lower-than-expected production from development projects or acquisitions; Azure's ability to realize the anticipated benefits from prior or future streamlining actions to reduce fixed costs, simplify or improve processes and improve Azure's competitiveness; exploration, drilling and other operational risks; disruptions to, capacity constraints in, or other limitations on the pipeline systems that deliver Azure's oil and natural gas and other processing and transportation considerations; volatility in the securities, capital or credit markets, including capital market disruptions and instability of financial institutions; government actions, war (including the Russia-Ukraine war and conflicts in the Middle East) and political conditions and events; health, safety and environmental (HSE) risks, costs and liability under existing or future federal, regional, state, provincial, tribal, local and international HSE laws, regulations and litigation (including related to climate change or remedial actions or assessments); legislative or regulatory changes, including changes relating to hydraulic fracturing or other oil and natural gas operations, retroactive royalty or production tax regimes, and deep-water and onshore drilling and permitting regulations; Azure's ability to recognize intended benefits from its business strategies and initiatives, such as Azure's low-carbon ventures businesses or announced greenhouse gas emissions reduction targets or net-zero goals; potential liability resulting from pending or future litigation, government investigations and other proceedings; disruption or interruption of production or manufacturing or facility damage due to accidents, chemical releases, labor unrest, weather, power outages, natural disasters, cyber-attacks, terrorist acts or insurgent activity; the scope and duration of global or regional health pandemics or epidemics, and actions taken by government authorities and other third parties in connection therewith; the creditworthiness and performance of Azure's counterparties, including financial institutions, operating partners and other parties; failure of risk management; Azure's ability to retain and hire key personnel; supply, transportation and labor constraints; reorganization or restructuring of Azure's operations; changes in state, federal or international tax rates; and actions by third parties that are beyond Azure's control.

CONTACT:
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(917) 584-7042

SOURCE: Azure Holding Group Corp.

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A.Anderson--AT