D A N K folgender N E W S:
Press Release Source: RussOil Corp.
RussOil's Smolenergy Enters Contract with Selection Oil
Sunday June 10, 6:00 pm ET
Adding an Additional License to the Purchase Agreement
NEW YORK--(BUSINESS WIRE)--RussOil Corp. (OTCBB:RUSO - News) announced today that Smolenergy, the Russian oil firm with which it has signed a definitive purchase agreement (see press release dated 31 May 2007), has entered into a contract with Selection Oil to sublicense Selection's "Perm" license. This license is for extraction and geology of a 52,000-acre area in Bashkiria with 8 million barrels of proven and probable crude oil reserves.
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Should the merger between RussOil and Smolenergy be consummated as expected, Smolenergy will become a wholly-owned subsidiary of RussOil, and Selection Oil will receive 4 million unregistered shares of RussOil common stock in consideration for ownership of the Perm license.
RussOil CEO Silvestre Hutchinson noted, "We are pleased to see Smolenergy continue its strong record of asset expansion. With RussOil as a strategic partner, our combined firms will enjoy a strong position in terms of acquiring and extracting additional reserves. We look forward to closing the merger with Smolenergy as soon as possible."
About Russoil Corp.: Upon completion of the planned combination, Russoil Corp. will become a U.S.-based oil and gas company with 100% of its assets located in Siberia, Russia, its core concept is to produce oil, develop oil fields, and conduct oil exploration while pursuing a strategy of seeking investment and acquisition opportunities in Russia and Eastern Europe. The company's goal is to provide Western investors with access to a portfolio of natural resource licenses and operating companies. Additional information can be found at www.russoilcorp.com.
Safe Harbor Statement: A number of statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the successful consummation of the transaction with Smolenergy, the successful completion and integration of prospective acquisitions, competitive market conditions, and the ability to secure sufficient sources of financing. The actual results Russoil may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. Russoil encourages the public to read the information provided here in conjunction with its most recent filings which may be viewed at www.sec.gov.
Contact:
RussOil Corporation
230 Park Avenue
10th Floor
New York, NY 10017
Tel: 212-551-1474
Fax: 212-808-3020
info@russoilcorp.com
or
Press:
REVsolutions LLC
Elena Furman, 917-202-1445
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Source: RussOil Corp.
Quelle: finance.yahoo.com/q?s=RUSO.OB
Quelle: biz.yahoo.com/bw/070610/20070610005049.html?.v=1
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