PETROGAS COMPANY (OTCMKTS:PTCO) Files An 8-K Unregistered Sales of Equity Securities

PETROGAS COMPANY (OTCMKTS:PTCO) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02Unregistered Sales of Equity Securities

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On April 3, 2019, our majority shareholder and our sole director, approved the issuance of 3,000,000 shares of common stock to Huang Yu, our President as compensation for management services provided to our company by Mr. Yu. The shares were issued at a deemed price of $0.03 per share.

The securities were issued to a non-US person (as that term is defined in Regulation S of the Securities Act of 1933), in offshore transactions relying on Regulation S of the Securities Act of 1933.

About PETROGAS COMPANY (OTCMKTS:PTCO)

PetroGas Company has working interests in certain oil and gas properties. The Company’s properties include Ellis County, Hemphill County, Madison County, Shelby County and Emergy County. The Company owns a fractional royalty interest in approximately 60 wells located in Ellis and Harper Counties, Oklahoma. As of March 31, 2016, it owned a fractional royalty interest in over three producing wells as part of the Begert 38 lease located in Section 38, Block A-1, H&G Survey, A-1075 in Hemphill, Texas. These wells have averaged approximately 4,860 million cubic feet per day (MCFPD) and over 180 barrels of oil per day (BOPD). It owns an interest in the wellbores of the Vols DU 01H and Vols DU B 01SL wells located in the H. L. Wiggins Survey, A-763, Shelby County, Texas. The Company owns oil and gas leases totaling approximately 2,800 acres issued from the State of Utah and located in Emery County. It owns the Snyder leases of approximately 950 Acres situated in Callahan County, Texas.

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