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Apollo Resources Acquires Oil and Natural Gas Producer

Posted on: Tuesday, 20 December 2005, 12:00 CST

Apollo Resources International, Inc. (OTCBB:AOOR) today announced its acquisition of Mountain States Petroleum Corporation. Mountain States owns oil and gas producing assets near the Four Corners area of the United States, and maintains production operations in the states of New Mexico, Arizona, and Utah.

Mountain States is capable of producing both oil and natural gas from its areas of operations, which contain a total of 50 wells. During 2005, Mountain States produced approximately 150 barrels of oil per day. Over the past six months, Mountain States has been in the process of re-activating natural gas production from wells and pipelines previously out of repair.

Apollo Chief Operating Officer, Wayne McPherson, stated, "These wells are in fairly close proximity to our BC&D production, so we expect to derive operating efficiencies by sharing operations resources between these two areas."

Apollo Resources International is a public energy company focused on the acquisition and development of upstream oil and natural gas production assets. Additionally, the Company evaluates and develops existing and future alternative energy sources.

This press release may contain "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes,""looking ahead,""anticipates,""estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

Source: Business Wire

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