Dolberry Energy Resources Announces Intent To Merge With Green Energy Resources (GRGR); Cap N Trade Creates New Opportunities for Oil, Gas and Biomass in Energy Sector
Posted on: Thursday, 23 July 2009, 07:30 CDT
DALLAS, July 23 /PRNewswire-FirstCall/ -- Dolberry Energy Resources Corporation is pleased to announce its intent to merge its oil and gas assets along with its service division into Green Energy Resources, Inc. Dolberry is a Dallas, Texas based oil and gas company specializing in enhanced oilfield reserve recovery. Dolberry has signed a Letter of Intent with Green Energy Resources subject to all necessary legal requirements and Green Energy Resources shareholder approval. The two companies look to move forward as rapidly as possible to complete a merger.
This deal comes by way of Dolberry Energy's need for diversification and leveraging ability with international financial institutions that are only available for publicly traded corporations. The new "cap N trade" regulations taking shape across America positions Dolberry Energy for unlimited leverage with its structure for financing in providing sufficient operating capital and future development potential. Gary Dolberry, CEO/Founder, is a 3rd generation oil and gas man in the industry for over 30 years.
Recent congressional passage of the Cap N trade legislation creates new opportunities for traditional fossil fuel companies to work closely with renewable energy companies. Overall Reduction of carbon and green house gases is viewed positively and makes sense to offset emission costs. Dolberry believes this is the future of the energy industry.
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
SOURCE Green Energy Resources; Dolberry Energy Resources Corporation
Source: PR Newswire
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