Company: MNTR
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010157
Chunk: 49

Company: Mentor Capital, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 49
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 space of oil and gas, coal, uranium, and related businesses which are Mentor Capital, Inc.’s current focus.

Mentor Capital, Inc.

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, 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