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Blast Energy Services' Management May Purchase Common Stock in the Open Market

Posted on: Friday, 6 March 2009, 11:59 CST

HOUSTON, March 6 /PRNewswire-FirstCall/ -- Blast Energy Services, Inc. (OTC Bulletin Board: BESV) announced today that its management believes that the current trading price of its common stock does not represent the true value of the common stock, based on the recent positive results relating to the company's applied fluid jetting ("AFJ") technology and the traction we are seeing in the marketplace to contract our service. Therefore, the company's management may purchase shares of the company's common stock from time to time in the open market or in private transactions, reflecting management's confidence in the company's long-term prospects.

Website address

http://www.blastenergyservices.com

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to be materially different from any future performance that may be suggested in this release. Such factors may include risk factors including but not limited to: the likelihood that the customer lawsuits result in meaningful proceeds, the ability to raise necessary capital to fund growth, adequate liquidity to manage operations and debt obligations, the introduction of new services, commercial acceptance and viability of new services, fluctuations in customer demand and commitments, pricing and competition, reliance upon lenders, contractors and vendors, the ability of Blast's customers to pay for our services, together with such other risk factors as may be included in the company's filings on its periodic filings on Form 10-K, 10-Q, and other current reports. Blast Energy Services, Inc. takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Blast.

SOURCE Blast Energy Services, Inc.

Source: PR Newswire

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