Luminart Corp. (LUMP) announced the organization of an advisory board to complement its current board of directors and serve as a valuable source of information and experience. The advisory board will be comprised of William (Bill) Rippy and Mitch Swergold. These additions further expand the company's already diversified background in oil field and aggregate services while increasing its depth in the investment arena.
Bill Rippy brings 55 years of experience in the oil and gas industry. Along with his experience come well-established relationships with regulatory services such as: B.L.M., U.S.G.S. and the North Dakota Industrial Commission, Department of Mineral Resources, Oil and Gas Division. Bill has vast experience in well development, plug and abandonment and well operations. He has been the owner/operator of Rippy Sales and Service, Wind River Oil Field Service, and partnered in a drilling and water trucking enterprise as well.
Mitch Swergold is an investor and former hedge fund manager with 17 years of experience in finance. Mitch's educational background includes a BA from Columbia University and a JD from Emory University School of Law. He practiced law in San Francisco, California before taking a sell side position at an investment bank. He remains a member of the California State Bar on inactive status. Mitch worked at several major hedge funds for nearly 10 years and has been a private investor ever since. Over his career, Mitch has focused on technology, macroeconomics, gold, commodities, currencies, mining and exploration and a variety of other industries. He has lived in 5 and has traveled to 49 countries on 5 continents and is conversant in several languages. Mitch was an Executive Producer and adviser on "UN Me," a feature length docutainment film released nationally in June 2012. Mitch has also advised a number of junior exploration companies in a variety of capacities. In recognition of his meaningful contributions, Mitch was appointed to the Advisory Board of Colombian Mines Corporation.
"We have been very fortunate to be able to operate in such a way that has allowed us to rub shoulders with these types of individuals and are excited to tap into their expertise and experience," said Luminart president Burke Bentley. "It says a lot about our company when we have people like Mitch and Bill express interest in being a part of our organization. Our continued growth and development is insured with these types of additions and more doors continue to open as a result."
In addition to the 11 producing wells there are 10 permitted well locations from a total of 45 gross drilling locations in the area of the Williston Basin along the Mackenzie County/Mountrail County border.
The correct amount for the capital expenditures is approximately $1,859,173.