O&G

Initial Production of 60 Barrels of Oil per Day Greater Than Anticipated; Recompletion of Second Production Zone Expected to Add Additional Production

Dallas, Texas–(Newsfile Corp. – April 20, 2021) – Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in and acquirer of technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that its initial seven well Danbury Dome project with Lazy Jacks Petroleum, LLC (“Lazy Jacks”) will be fully funded by May 1, 2021.

Additionally, the Company provided the following update regarding the Danbury Dome project’s production status:

• Greater than anticipated first well initial production of approximately 60 barrels of oil per day
• A second production zone on the first well is currently being recompleted and is expected to add additional production
• The balance of the initial project wells are expected to be operational by May 1, 2021
• Onsite wastewater disposal well is fully operational, mitigating environmental impact
• The Company is evaluating two additional projects with Lazy Jacks and expect to move forward in the near future.

“The second well in the Danbury Dome project came online last week, and initial production is promising,” said K. Bryce “Rick” Toussaint Chairman and CEO of PSWW. “With solid oil production, very low capital expense, and the low production costs we’ve experienced thus far, we remain confident in our oil well recycling program project with Lazy Jacks. Anthony Lerner, Chief Operating Officer of PSWW added, “Our team is very satisfied with the initial results of our first project with Lazy Jacks and is already looking forward to getting started on our second and third projects together.”

A variety of factors contribute to overall well production performance, including initial well pressures, equipment testing and operational status, and the tested quality/acceptability of the oil produced. Additional details, including normalized production rates and the wells’ anticipated financial performance, are expected to be made available once the initial evaluation periods are complete.

About Principal Solar

Principal Solar is a strategic investor in and acquirer of technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.

For further information, please visit the Company’s website at www.pswwenergy.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW’ hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs’ control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWWs’ most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.

Principal Solar Contact
K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer
kt@pswwenergy.com
346-396-4210

Investor Relations Contact
Michael Briola
invest@pswwenergy.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80950

Project Partner Lazy Jacks Petroleum Observes Strong Initial Daily Flow; Additional Wells Expected to be Brought Online Over the Coming Weeks

Dallas, Texas–(Newsfile Corp. – April 13, 2021) – Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that preliminary production has commenced on the first wells activated in its initial oil well recycling program project with Lazy Jacks Petroleum (“Lazy Jacks”).

“Today marks a significant milestone for Principal and our partnership with Lazy Jacks,” said K. Bryce “Rick” Toussaint, CPA, MBA, Chairman and CEO of PSWW. “Lazy Jacks has confirmed that the first wells at our Danbury Dome project are now online and appear to be producing strong initial flow rates. The team is now preparing the next four wells on the property for startup, testing, and production, which we expect will occur within the next two to three weeks.”

A variety of factors contribute to overall well production performance, including initial well pressures, equipment testing and operational status, and the tested quality/acceptability of the oil produced. Additional details, including normalized production rates and the wells’ anticipated financial performance, are expected to be made available once the initial evaluation periods are complete.

About Principal Solar

Principal Solar is a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.

For further information, please visit the Company’s website at www.pswwenergy.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW’ hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs’ control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWWs’ most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.

Principal Solar Contact
K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer
kt@pswwenergy.com
346-396-4210

Investor Relations Contact
Michael Briola
invest@pswwenergy.com

First Project Under Long-term Oil and Gas Development Agreement with Lazy Jacks Petroleum, LLC

Dallas, Texas–(Newsfile Corp. – March 16, 2021) – Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that the Company has begun the first of its orphan well redevelopment projects in conjunction with Lazy Jacks Petroleum, LLC (“Lazy Jacks”). Known as the Danbury Dome in Brazoria County, Texas, the project is comprised of five oil wells, one natural gas well, and one salt water disposal well.

“This is the first project in what we expect to be a multi year relationship with Lazy Jacks,” said Anthony Lerner, COO of Principal Solar. “The Danbury Dome project has all the characteristics that we love about our relationship with Lazy Jacks, in that we are ‘recycling’ old, unwanted orphaned wells, and rather than plugging them, we are extracting additional oil and gas without drilling new wells, thereby saving expense and environmental impact.”

Principal estimates the total project cost to be approximately $450,000. The Company anticipates 2-3 weeks of site clearing and preparation, tank installation, well rehabilitation, and testing prior to bringing the production wells and salt water disposal well back online by early April of 2021. Principal Solar is optimistic that the project will begin to produce revenues for the Company in April or May of 2021.

“This project will show that our redevelopment approach is the wise choice,” said Christopher Scully, Advisory Board Member of Principal Solar. “With proven, developed resources onsite, we believe the Danbury Dome project is low cost, low risk, and environmentally friendly.”

About Principal Solar

Principal Solar is a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.

For further information, please visit the Company’s website at www.pswwenergy.com.

About Lazy Jack Petroleum

Located in Houston, Texas, Lazy Jacks’ team has over 20 years of experience working in the Texas Oil Patch and specializes in bringing orphaned wells back to economical production.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW’s hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWW’s control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWW’s most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.

Principal Solar Contact
K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer
kt@pswwenergy.com
346-396-4210

Investor Relations Contact
Michael Briola
invest@pswwenergy.com