GRIT International Inc.
GRIT International Inc.: GRIT INTERNATIONAL INC. ANNOUNCES SUBSIDIARY TEXAS PETROLEUM INC. ENTERS INTO LOI TO ACQUIRE THE ASSETS OF AN ENERGY COMPANY
GRIT International Inc. / Key word(s): Letter of Intent/Mergers & Acquisitions GRIT International Inc.: GRIT INTERNATIONAL INC. ANNOUNCES SUBSIDIARY TEXAS PETROLEUM INC. ENTERS INTO LOI TO ACQUIRE THE ASSETS OF AN ENERGY COMPANY 21.12.2010 / 12:09 GRANDE PRAIRIE, AB - Tuesday - December 21th, 2010 - GRIT INTERNATIONAL (3GR1:F) is pleased to announce that its subsidiary Texas Petroleum Inc. has signed a letter of intent to acquire the assets from an Energy Company with oil & gas interests in a state adjacent to Texas. US. We have established contact with suitable candidates that would complement Texas Petroleum's overall growth strategies. Management is pleased to announce that it has pursued targeted properties that can be acquired and worked over so as to significantly increase daily barrel output. By strictly following and adhering to our M&A Strategy in the Oil & Gas Industry, GRIT intends to significantly grow its Petroleum's division.The recent acquisition opportunity for Texas Petroleum Inc. will greatly increase GRIT Petroleum's foothold in the US Oil & Gas Sector. The acquisition target, operating in a neighboring state to Texas, US has jointly entered into a LOI to have its assets acquired by GRIT International subsidiary, Texas Petroleum Inc.. The Energy Company currently has just under 800 acres of operational land, as well as over 3.5M BBLs of producing and 5.0M + BBLs in non-producing reserves, generating over $1.25 Million in annual production value. With the current day BBL price the reserve assets value to $750M (USD). ABOUT GRIT INTERNATIONAL INC. GRIT International is a Canadian based company registered in the State of Nevada, US. Diversified investment and management company specializing in industrial resources. Interests include precious metals and energy, environmental technologies and industrial manufacturing. Seeking out Environmentally Sustainable solutions in nuclear energy, renewable resources in bio-waste and other alternative fuels available at present time. Expansion of the divisions will position GRIT as a Global services provider. For more information please visit the company's website at www.gritintl.com TEXAS PETROLEUM INC. GRIT's first subsidiary spin-off company which is domestically and internationally focusing on the acquisition(s) of producing Oil & Gas Fields, with proven barrels in reserves as a fundamental criteria. Domestically the company will focus on Texas Oil Reserves, noting the areas such as East Texas Oil Fields which have produced 5.2 billion barrels of oil since its discovery. Internationally focus will be in the emerging markets with particular attention being addressed to the networking connection of Ariva Resources, in the Western African Regions. Texas Petroleum foresees a tremendous growth opportunity into these areas and will become a major supplier of petroleum products. Safe Harbor Statement; under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. ### Contact: GRIT International Inc., Investor Relations Website: www.gritintl.com; E-mail: grit-admin@gritintl.com P :+1.780.513.1125 F :+1.780.814.5584 A : Suite 201, 9914 - 109th Avenue, Grande Prairie, AB, T8V 1R7 Investor Relations - German Mr. James Stewart P: +49.2161 49694870 E: jstewart@gritintl.com End of Corporate News 21.12.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 107206 21.12.2010
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden