Alpha Compute Converts Term Sheet to Binding $5.5M Oil & Gas Acquisition

Updates

1. Sep 22, 9:10 AM ET · SEC 6-K — The definitive agreements cover over 75 existing oil and gas wells, pump jack inventories, maintenance facilities, heavy equipment, and gathering infrastructure. Alpha Compute plans to develop a data center on the site.

   • Asset Details — The acquired rights encompass the Utica and Marcellus shale formations. Historical documentation estimates an average of 10,000 barrels per acre of light Pennsylvania sweet crude oil across subsurface parcels, with an estimated 4% of the surface oil extracted to date.
   • Operations — The existing oil and gas operations are generating revenue and operational profit, and the site remains both profitable and financially self-sustaining.
   • Data Center Plans — The planned data center will replicate the proven design, architectural framework, and community-first standards planned for Alpha Compute’s Northern Pennsylvania site.
   • Community Commitments — Alpha Compute plans to form binding covenants with local and county governments, create skilled permanent and construction positions, modernize site utilities, and comply with environmental and regulatory requirements including DEP oversight.
   • Valuation — Given the USD $5.5 million acquisition price, the Company anticipates a substantial revaluation of the assets.
   • Ongoing Assessments — Alpha Compute is actively conducting updated geological assessments, modern appraisals, and confirmed site reviews to precisely map reserve potential.
   All 13 details

   • The acquired rights encompass the Utica and Marcellus shale formations.
   • Historical documentation from an assessment by Haliburton estimates an average of 10,000 barrels per acre of light Pennsylvania sweet crude oil across subsurface parcels.
   • Alpha Compute is actively conducting updated geological assessments, modern appraisals, and confirmed site reviews to precisely map reserve potential.
   • The existing oil and gas operations are generating revenue and operational profit.
   • Preliminary evaluations indicate that an estimated 4% of the surface oil has been extracted to date.
   • The site remains both profitable and financially self-sustaining.
   • Alpha Compute plans to form binding covenants with local and county governments to guarantee long-term alignment with municipal development goals.
   • The project is projected to create skilled permanent and construction positions.
   • Plans include modernization of site utilities and sustainable integration with local energy grid capacity.
   • Commitments include post-closing environmental compliance, plugging assurances, and responsible well management under DEP oversight.
   • Development will comply fully with local county ordinances and land-use regulations, regional GRID policies and interconnection standards, and Pennsylvania Department of Environmental Protection (DEP) regulations, including applicable operator registration and bonding requirements.
   • The planned data center will replicate the proven design, architectural framework, and community-first standards planned for Alpha Compute’s Northern Pennsylvania site.
   • Given the USD $5.5 million acquisition price, the Company anticipates a substantial revaluation of the assets.