Q3 2024 Conference Call Closing Remarks

Q3 2024 Conference Call Closing Remarks

Closing Remarks from Q3 2024 LBRT earnings call.?

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Q3 2024 Conference Call Closing Remarks?

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Since the first edition of our Bettering Human Lives report, we have raised awareness of energy security. In January this year, we took important, deliberate steps to address global energy poverty by launching the Bettering Human Lives Foundation to address a major fixable problem: the over 2 billion people who lack access to clean cooking fuels and, therefore, cook every meal using wood, charcoal, or dung.? This problem results in over 3 million annual preventable deaths from indoor air pollution – more than Malaria, AIDS, and Tuberculosis combined!? I view this as the largest fixable problem with, so far, very little concerted efforts to address it.?

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The Bettering Human Lives Foundation has created active partnerships and provided loans to entrepreneurial businesses in both Ghana and Kenya to increase access to clean cooking fuels.? In Ghana, our partner has built propane cylinder exchange cages to get propane into communities. In both countries, our partners will convert large boarding school kitchens from burning copious amounts of wood to clean burning propane for student meals.? Thousands of students’ lives will be improved with each conversion made.?

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Our partnership with an innovative American company will soon – early in 2025 -- dramatically lower the barrier to entry in switching to propane stoves.? It will allow the piecewise selling of propane contained in large cylinders – allowing consumers to pay a small amount each time they cook, as opposed to having to upfront purchase nearly a month’s supply.? This is a major barrier to entry for families who otherwise would make the switch to clean cooking fuels by reducing the up-front payment by a factor of TEN!? This could be transformative in speeding adoption of clean cooking fuels.?

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We are also partnering with this same American stove manufacturer to open a facility in Ghana to produce these stoves locally, lowering costs and growing supply. You can find out more at betteringhumanlives.org.?

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The American Shale Revolution has dramatically increased water-borne global propane supplies.? Our aim is to bring the benefits of this surge in new supply to those desperately in need of clean cooking fuels.? My heartfelt thank all of our existing and future partners in this life changing endeavor.?

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And if you are here in Denver, please join us for our inaugural 5K run in City Park supporting the BHL Foundation this weekend.???

John Steele

Faculty Emeritus and Research Associate Professor at Colorado School of Mines

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So Chris it sounds like you are trying to do good things, and you have training from some very fine institutions. What's your view on Climate Change? Is it an existential threat or just part of a bigger problem of making life better for all humans? How do the changing weather patterns fit in? Will you continue to promote the move to renewal energy in the US. How important is carbon sequestration?

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Petro Zinchenko

First Vice President - International association CENTRE / The Investment Director of ESTBRAND OU

1 周

ubject: Advanced Technology for Oil & Gas Exploration in the USA Dear Mr. Chris Wright, CEO, Liberty Energy, How can we calculate the extensive total oil and gas reserves in the USA 50 times faster? How can we identify the contours of all oil and gas fields in the USA 25 times more cost-effectively? And with 100% accuracy, how can we pinpoint segmentation points within each oil and gas field — the points where all reservoirs connect? For large and challenging terrains, we have developed an innovative technology: Remote Earth Sensing using Magnetic and Nuclear Resonance. Originally a military technology designed for submarine detection, our engineers have adapted it for geological exploration. It is like a falcon's eye, capable of seeing underground down to a depth of 5,000 meters, and as of July 2024, we can survey depths of up to 7,000 meters.

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Petro Zinchenko

First Vice President - International association CENTRE / The Investment Director of ESTBRAND OU

1 周

How does it work? For example, you provide an area of 1,000 sq. km with coordinates. Using these coordinates, we request an analog infrared photo from NASA’s space station. Unlike satellites, which only produce digital images, analog photos allow us to detect the depth of oil and gas deposits. Our engineers apply the chemical composition of oil and gas onto a special helium plate, add X-ray film, form a container, and send it for nuclear reaction exposure. The results are analyzed by nuclear engineers, physicists, chemists, mathematicians, topographers, and geologists.

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Petro Zinchenko

First Vice President - International association CENTRE / The Investment Director of ESTBRAND OU

1 周

The essence and uniqueness of our Remote Sensing technology include: No need to visit the survey site. No requirement for local, regional, or government exploration permits. No need for exploratory drilling for resource discovery or assessment. No need for traditional geological exploration equipment or on-site personnel. Deliverables: We provide an Official Report containing all necessary parameters to initiate resource development, including: Refined outlines of identified fields. Trap boundaries. Number of reservoir horizons. Depth and thickness of horizons. Presence of gas caps above oil horizons. Calculated gas pressure in gas caps. Presence of water-bearing horizons. Vertical and longitudinal profiles of fields. Depth profiles at control points. Structural maps of horizon caps. Estimated oil and gas reserves. Drilling-ready coordinates and optimal drilling points. Comprehensive analysis and recommendations.

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Petro Zinchenko

First Vice President - International association CENTRE / The Investment Director of ESTBRAND OU

1 周

Exploratory drilling becomes instantly productive when using our coordinates. Without exploratory drilling or traditional studies (e.g., seismic surveys), our direct remote sensing method delivers all the above data. Unlike interpretative methods such as seismic surveys, which offer about 30% accuracy, our Direct Method achieves 100% accuracy by detecting oil and gas directly. Our scientists and engineers work to depths of 7,000 meters, even beneath ocean and seawater, completing surveys 50 times faster. Additionally, we can detect tectonic faults, high-temperature zones in hot water, and dry rock. Our technology enables us to survey 600,000 sq. km in one year. We are ready to conduct an online presentation for your engineers and undertake a pilot project to support your decision-making. Our team of 52 engineers, laboratories, equipment, and nuclear reactor facilities are located in Switzerland, Estonia, Spain, and Ukraine. Our website: www.estbrand.eu. I am also sending you our first publication from 2016, a presentation, and a 2024 report on oil exploration in Nigeria. Best regards, Petro Zinchenko Investment Director +380958704603

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