Clayton Point Energy Ltd.
Clayton Point Energy Ltd.: Clayton Point Energy Negotiating First Producing Oil and Gas Property
Clayton Point Energy Ltd. / Key word(s): Miscellaneous Clayton Point Energy Negotiating First Producing Oil and Gas Property VICTORIA, BRITISH COLUMBIA CANADA – (IMMEDIATE RELEASE) – November 10, 2011 Clayton Point Energy Ltd., (G2S1:F Frankfurt Stock Exchange, ISIN- CA1844001091, WKN- A1JM57) today announced it is in the process of making an offer to acquire three producing natural gas wells in Texas. These leases were selected on the basis that Clayton Point Energy has the capability to rework the wells and boost production by as much as 40%. Clayton Point Energy, along with a representative from JEDI Energy Partners, LLC will be doing a final inspection of the wells in the next few days as the final due diligence. Earlier this month, the Company engaged JEDI to conduct the initial due diligence on behalf of Clayton Point. Given our Company directives, JEDI has signed off on the arrangement pending the final walk through. In addition, the Clayton team will be visiting a nearby producing field where a second deal is being considered. Clayton Point Energy Ltd. is now executing on the first part of its plan to acquire and work known oil and gas reserves and to build cash flow and increase value for our shareholders. Corporate Overview Established in 2011, Clayton Point Energy was created to acquire mature production assets of oil and gas programs. The objective behind this approach gives way for us to apply our innovative methods to increase production and reduce operating expenditures. Our professional team will target the ideal program, assess the current method of extraction, and then formulate a technically advanced solution designed to exploit the existing assets to higher production levels. The company and its management team have had extensive exposure to the fluctuating conditions surrounding the energy sector, specifically the oil and gas market. As a result of this experience, we believe we have a keen sense as to the selection and point of entry with these types of programs. Ideally, this will enhance the opportunity for rapid portfolio growth. Disclaimer: Contact: End of Corporate News 10.11.2011 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 |
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