Worldwide Energies Inc.
Worldwide Energies Inc.: PROGRESS ON BUILDING OF PIPELINE AS WELL AS NEGOTIATIONS WITH POTENTIAL INVESTORS
Worldwide Energies Inc. / Miscellaneous 02.06.2010 16:55 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- CORPORATE NEWS WORLDWIDE ENERGIES, INC. PROGRESS ON BUILDING OF PIPELINE AS WELL AS NEGOTIATIONS WITH POTENTIAL INVESTORS The management of Worldwide Energies, Inc. would like to announce that the works on the pipeline of the Koon prospect on target with the anticipated time line. Currently the preparations have started to drill another well in the Koon Prospect. This well will be a re-entry. Years ago another geology team has drilled this well and had declared it a 'dry hole' due to a miss interpretation of the logs at that time. Our geologist has re-evaluated the data and shows that the sand formations of the recently discovered KOON 21-7 # 1 are also present at the proposed re-entry, as well as 3 additional sands below the lower Fayette Sands. Worldwide Energies, Inc. expects similar excellent results in the re-entry as the Koon 21-7 #1 showed. Based on the very successful exploration of the KOON Gas Field we are currently in several negotiations with several companies from the oil and gas sector as well as institutional investors. In order to speed up growth and push our success to the next level, we are exploring several joint venture offers and other forms of proposals. About Worldwide Energies, Inc.: Worldwide Energies, Inc. was founded in 2004 as an independent investment company focusing on oil- and gas-exploration. The company's core business is the acquisition, development and exploitation of oil and gas fields in the US with its well-developed infrastructure, close-by sales markets and stable social and political structures. Worldwide Energies, Inc. mainly invests in already existing oil- and gas-exploration-projects or projects that can be realized rapidly and especially in innovative technologies with a wide application spectrum. The company's particularly low internal cost is due to lean internal processes and the exploitation of value adding potentials right at source. Worldwide Energies, Inc. spreads its entrepreneurial risk by investing in a well balanced risk-portfolio in projects in various development stages, including risky new exploration projects, the so-called 'wildcat-projects', the reactivation of known wells, the so-called 're-entry' with medium risk profile and also in low-risky already producing wells. Disclaimer / Forward-Looking Statements: This notice is only of general nature and not meant as a tender to subscribe for or sell shares of Worldwide Energies, Inc. This notice contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections and currently available information. They are not guarantees of future performance. The statements contained herein which are not historical are forward-looking statements that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, certain delays beyond the company's control with respect to commen-cement of the exploration and production, risks and uncertainties relating to foreign currency fluctuations; risks inherent in exploration including environmental hazards, industrial accidents, unusual or unexpected geological formations, ground control problems and flooding; risks associated with the estimation of resources and reserves and the geology, grade and continuity of deposits; the possibility that future exploration, development or exploration or production results will not be consis-tent with the companies' expectations; the inability or failure to obtain adequate financing on a timely basis, the potential for and effects of labour disputes or other unanticipated difficulties with or shorta-ges of labour or interruptions in production; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Dover, May 21nd, 2010 Worldwide Energies, Inc. 02.06.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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