NextMart, Inc. announced it will be adding a new oil field service in the plugging of abandoned wells for the State of Oklahoma, Texas, and New Mexico. The Company will be initially contracted to service and plug five hundred (500) wells for the State of Oklahoma, five hundred (500) for the State of Texas, and one hundred (100) for the State of New Mexico. The average payment for the capping of wells will vary between USD 20,000 to USD 40,000 each dependent on the depth of the well to be serviced.

The cost to plug abandoned wells will run around USD 3,000 to USD 5,000 per well. The Company will add on a conservative basis over USD 20,000,000 in top line revenue with a profit margin of a minimum of 50%-70%. The well capping program will be operated out of the footprint of the new water stations the company recently announced.

The profit margin on the capping of what is commonly referred to as "Orphan Wells" is extremely profitable and the amount of these types of abandoned wells in the State of Oklahoma, Texas, and New Mexico will take years to complete. The company expects this new type of oil field service to make a material change in both the company's top line revenue as well as net income. As long as the company continue to properly fulfill the company's contracts with each state, the company will continue to get new contracts to do the same on an ongoing basis.

Federal funding under the bipartisan infrastructure bill that was recently passed set aside a significant amount of money to the states to finally deal with these Orphan Wells some of which have been around for over 100 years.