Infinity Energy Resources Announces Agreement to Acquire Seismic Data on Offshore Nicaragua Concessions
OVERLAND PARK, Kan., Sept. 10 /PRNewswire-FirstCall/ — Infinity Energy Resources, Inc. (Pink Sheets: IFNY) (“Infinity” or the “Company”), an independent oil and gas exploration and development company, today announced that it has entered into a licensing agreement with Fugro Data Services AG that will allow the Company to acquire 2-D seismic data covering its approximately 1.4 million-acre oil and gas concessions offshore Nicaragua.
“The seismic information will be processed and/or reprocessed by our technical team, under the direction of Dr. Renato Bertani and Jeff Roberts,” noted Stanton E. Ross, Chief Executive Officer of Infinity Energy Resources, Inc. “We expect initial processing and geologic interpretation of the data to be completed within the next 60 to 90 days, following which the Company will be able to more fully engage in discussions with potential partners in the Nicaraguan exploration and development project.”
About Fugro Data Services AG
Fugro Data Services AG is a unit of Fugro N.V. (“Fugro”), a Netherlands-based global leader in the collection and interpretation of data and the provision of advice related to the Earth’s surface, the sea bed, and the soil and rocks beneath. Fugro’s activities are carried out all over the world — onshore, offshore and in the air – and are primarily aimed at providing advice to the oil and gas, mining and construction industries. Fugro has more than 13,000 employees stationed in over fifty countries.
About Infinity Energy Resources, Inc.
Infinity Energy Resources, Inc. has oil and gas concessions covering approximately 1.4 million acres offshore Nicaragua in the Caribbean Sea. The Company is also engaged in the exploration, development and production of natural gas and oil in Texas and the Rocky Mountain region of the United States.
The Company is headquartered in Overland Park, Kansas and its common stock is listed on the Pink Sheets under the symbol “IFNY.PK”. Additional information is available on the Internet at www.ifnyoil.com .
This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe”, “estimate”, “project”, “expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements in this press release include the success of the Company’s plans to move forward with exploration and development activities in Nicaragua; the benefit to the Company’s shareholders and the citizens of Nicaragua of the development of the Company’s Nicaraguan concessions; the quantity of hydrocarbons beneath the Company’s concession blocks, including in the Cretaceous zone at certain water depths; the success of the Company’s efforts to secure the necessary capital to acquire and process seismic data and for other purposes; the Company’s ability to obtain the appropriate financial guarantees; its ability to find a qualified partner with whom to pursue its exploration and development program in Nicaragua; its ability to obtain such partner on terms and conditions acceptable to the Company; and the Company’s ability to attract buyers for its remaining domestic properties and the price, timing, and terms of any such sale. Factors that could cause or contribute to such differences include, but are not limited to, operating risks, delays and problems, the availability of services on acceptable terms, the results of drilling and completions, changes in the prices of oil and gas, unexpected negative geological variances, governmental uncertainties in Nicaragua, actions by Amegy and/or other creditors with respect to debt obligations, liquidity and capital requirements, the availability of capital on acceptable terms or at all, and other risks described in the Company’s press releases and other information available on the Internet at www.pinksheets.com.
For additional information, please contact:
Stanton E. Ross, President/CEO at (913) 948-9512
SOURCE Infinity Energy Resources, Inc.