kam über den news ticker ....
RussOil's Smolenergy Enters Contract with Selection Oil
Ticker Symbol: U:RUSO
NEW YORK -- (Business Wire) --
RussOil Corp. (OTCBB:RUSO) 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.
¶ 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.
Contacts:
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
Zurück
