Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 74

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 2
Chunk 74
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 months was approximately 5,252 BBLs and
    5,580 MCF. Transfer of title to oil, gas, and mineral royalty interests and other interests in the name of Mentor Capital, Inc. was
    recorded on April 3, 2025, subsequent to quarter end, in Howard County, Texas by a certain Mineral and Royalty Deed effective March
    1, 2025. Therefore, royalty payments owed to the Company commenced and are recognized as of March 1, 2025. The Company estimates
    that this first royalty payment will be received by the Company on or around August 2025.

    ○
    On
    March 25, 2025, Mentor Capital, Inc. purchased an overriding royalty interest of approximately 0.06% in seventy-one (71) producing
    oil and gas wells in a nearly 3.5 square mile pooled horizontal drilling project located in the Permian Basin situated in Martin
    County, Texas from Gatorex Holdings, LLC, a Texas limited liability company, for a total acquisition cost of $720,690. Prior to the
    Company’s purchase, average daily production in the last six months was approximately 16,572 BBLs and 37,496 MCF. Transfer of
    title to overriding royalty interests together with all interests in any units, bonuses, rents, royalties, and other benefits which
    may accrue in the name of Mentor Capital, Inc. was recorded on April 9, 2025, subsequent to quarter end, in Martin County, Texas by
    a certain Assignment of Overriding Royalty Interests effective April 1, 2025. Royalty payments owed to the Company commenced and will
    be recognized effective April 1, 2025. The Company estimates that this first royalty payment will be received by the Company on or
    around August 2025.

-32-

    ○
    As of March 31, 2025, Mentor
    Capital, Inc. purchased royalty interests of approximately 0.050099% in forty-one (41) producing oil and gas wells in the Permian
    Basin situated in Martin County, Texas from Maven Royalty 2, LP, a Delaware limited partnership, for $588,229. Prior to the
    Company’s purchase, average daily production in the last six months was approximately 15,734 BBLs and 20,645 MCF. Transfer of