Company: MNTR
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001493152-25-011889
Chunk: 53

Company: Mentor Capital, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 53
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 an annuity-like financing, and the collection
of a judgment that it intends to continue to pursue. In 2023, the Company initially signaled a substantial return to its energy roots,
starting with a tracking investment in New York Stock Exchange energy companies in the oil and gas, coal, and uranium industries.

In
March 2025, the Company acquired three fractional, non-operating royalty interests in oil and gas properties covering approximately one-hundred
twenty-one (121) wells in the Spraberry Field of the Permian Basin in West Texas, through related public auctions for total consideration
of $1,369,899 as follows:

    ○
    On
    March 20, 2025, Mentor Capital, Inc. purchased an average of 0.0332439% oil and gas royalty interests in seven (7) producing horizontal
    wells and a royalty interest of approximately 0.15625% in two (2) non-producing mineral wells located in the Permian Basin situated
    in Howard County, Texas from Bluestem Royalty Partners, LP, a Texas limited partnership, for a total acquisition cost of $60,980.
    Prior to the Company’s purchase, average daily production in the last six 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 in Howard County, Texas by a certain Mineral and Royalty Deed effective March 1, 2025. Therefore, royalty payments
    owed to the Company commenced and were recognized as of March 1, 2025. The Company estimates that this first royalty payment will
    be received by the Company in 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