HARRISON, NY - November 4, 2025 (NEWMEDIAWIRE) - Metawells Oil & Gas Inc. (OTC: KOSK), a development-stage energy company, today announced two significant corporate developments: the appointment of Mr. Stefanos Kalogirou as President of the Board of Directors and the successful finalization of its acquisition agreement with South Plains Petroleum Inc. (www.southplainspetroleuminc.com).

Effective November 1, 2025, Mr. Kalogirou succeeds Mr. Ronald Minsky, who has resigned from his position and will continue to serve the Company as a senior advisor and consultant. Mr. Kalogirou brings over two decades of experience in project management and strategic planning, with a track record of leading large-scale projects. He holds a degree from Baruch College, City University of New York.

“I am honored to join the Board of Directors at this pivotal time,” said Mr. Kalogirou. “I look forward to advancing Metawells’ strategic roadmap and supporting the Company’s growth through disciplined execution and new opportunities.”

In parallel, Metawells has finalized its acquisition agreement with South Plains Petroleum Inc., following several months of negotiations and due diligence. South Plains holds multiple properties in the Eastern Permian Basin of Texas and onshore Louisiana near the Gulf Coast, with significant proven oil and gas reserves ready for development.

“This acquisition marks a transformative step for Metawells,” added Mr. Kalogirou. “The integration of South Plains’ assets will strengthen our portfolio and accelerate our path toward operational expansion.”

Further updates regarding leadership initiatives and the South Plains integration will be provided in subsequent announcements.

About Metawells Oil & Gas Inc.
Metawells Oil & Gas Inc. (OTC: KOSK) is a development-stage energy company focused on identifying and advancing high-potential oil and gas opportunities across North America. The Company is committed to building shareholder value through strategic acquisitions, disciplined project execution, and sustainable growth.

A combination with South Plains Petroleum, Inc. would accomplish that goal.

Forward Looking Statement

Safe Harbor Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.

Contact Information
For more information contact:
Stefanos Kalogirou, President
Phone: (212) 381-8029
contact@metawellsinc.com

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