Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 29

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 29
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    that the first royalty payment will be physically 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 the first royalty payment will be
    physically received by the Company on or around August 2025.

    ○
    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 title to all oil, gas, and associated liquid or liquefiable hydrocarbons, including royalty, overriding royalty,
    unit interest and mineral interests of whatever nature, in, on, and under that may be produced from or attributable to the property
    including royalty interests in the name of Mentor Capital, Inc. was recorded on April 9, 2025, subsequent to quarter end, in Martin
    County, Texas by a certain Mineral and Royalty Deed effective April 1, 2025. Therefore,