Inform Worldwide Holdings, Inc. Announces Agreement in Principal With Soam Oil &Amp; Gas Investments, LLC
Posted on: Tuesday, 13 March 2007, 12:01 CDT
Inform Worldwide Holdings, Inc. (OTCBB: IWWI) (the "Company") announced today that it has entered into an Agreement in Principle with an affiliated company, Soam Oil & Gas Investments, LLC ("Soam"), to acquire Soam's interest in two oil and gas projects in Osage County, Oklahoma (the "Projects"). The Company will retain Soam as the Projects' operator, pay off Soam's accrued expenses and will receive an 80% net revenue interest in the Projects. In total, the Projects encompass 2,720 acres with 68 wells currently producing in excess of 50 bbls of oil daily and excess of $20,000 net revenue of gas monthly. The Company and the current owners of the Projects will enter a definitive agreement shortly with an anticipated closing within 90 days.
About Inform Worldwide Holdings, Inc.:
Inform Worldwide Holdings, Inc. (OTCBB: IWWI) is a development stage company currently in process of identifying, developing, and marketing global business opportunities with emphasis on natural resource development and servicing.
About Soam Oil & Gas Investments, LLC:
Soam Oil & Gas Investments, LLC currently operates oil & gas leases in Archer County, Texas.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.
Contact: Shareholder Services (800) 963-6533 E-mail: Contact via http://www.marketwire.com/mw/emailprcntct?id=475335382AECAECE
SOURCE: Inform Worldwide Holdings, Inc.
Source: MARKET WIRE
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