Transworld Oil and Gas Ltd Announces Joint Venture Update
Posted on: Friday, 14 October 2005, 09:01 CDT
Transworld Oil and Gas Ltd. (OTC: TWOG) announced today that the company has negotiated a direct interest, rather than an indirect interest, via an equity interest as indicated in a previously signed LOI, which it believes to be most beneficial to its shareholders.
The project is located in the Komi Region, which is located in Russia's European North bordering the Arkhangelsk, Kirovsk, Perm, Sverdlovsk and Tyuman Regions. The Komi Republic's economy is based on extraction of natural resources. The republic currently extracts oil, gas, and coal. Komi also has a major oil pipeline; Usa-Ukhta-Jaroslavl and "Lights of North" gas pipeline. Production is expected to be increased from present levels to a projected 1,000,000 barrels per month. Further exploration will take place to delineate total unproven reserves. All production is expected to be sold and shipped to China.
About Transworld Oil and Gas Ltd.
Transworld Oil and Gas Ltd. intends to become a worldwide company specializing in the extraction and production of oil and gas. The company's vision is to establish and enhance the company's foundation for future growth by developing properties that provide a balance between short and long-term reserves in both the oil and natural gas markets. Oil and gas related activities will include acquiring additional properties with potential for development and drilling. The company will work to establish and maintain a significant inventory of undeveloped prospects. The company emphasizes production, cash flow and reserve value by exploring for, developing, and purchasing oil and gas properties worldwide.
Safe Harbor Statement
The preceding includes forward-looking statements which involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.
CONTACT: M. Mancini Tel: (281) 854-2374 Email: Contact via http://www.marketwire.com/mw/emailprcntct?id=730FE5D401581D60 Website: www.alaskanoilngas.com
SOURCE: Transworld Oil and Gas
Source: MARKET WIRE
Related Articles
- This Essential Global Oil & Gas Exploration & Production Report is Available Now
- Knight Energy Corp. Commences Production on Its Lea Property Natural Gas Well in Stephens County, Texas
- Knight Energy Commences Production on Its Jackson Property Natural Gas Well in Stephens County, Texas
- Kazakhstan to Up Oil Production 1.6%, Gas 5.3% in 2006
- Kazakh Oil Production Up 1%, Condensate - Down 20% in Jan
- Black Gold Gas & Oil to Acquire Four Oil & Gas Properties In Midwest
- Deep Rock Oil & Gas, Inc. Completes Acquisition of 5.8265% Net Profits Interest in the Big Foot Oil Field
- Oil Production Up 2.4%, Gas - 0.7% in Jan-Sept
- Kazakhstan Ups Oil Production 1%, Gas 49% in 7 Mths
- Gas Prices Drop As Oil Production Rises
 |
 |
User Comments (0)
RSS Feeds