Petro Resources Files Registration Statement With SEC
Petro Resources Corporation (OTC: PRCT), an independent exploration and production company focused on domestic lease acquisitions, exploration, and oil and gas production, today announced that it has filed a registration statement with the SEC to register the resale of shares of common stock sold in the Company’s 2005 and 2006 private placements. The shares subject to registration may be offered for sale by the selling stockholders named therein. Each selling stockholder will determine the prices at which it sells its shares. Petro Resources will not receive any of the proceeds from the sale of the shares of common stock by the selling stockholders.
The registration statement relating to the shares to be sold by the selling stockholders has been filed with the Securities and Exchange Commission but has not yet become effective. The shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Copies of the registration statement, including the prospectus made part of the registration statement, can be accessed on the SEC’s website at www.sec.gov.
About Petro Resources Corporation:
Petro Resources Corporation is an independent exploration and production company focused on domestic lease acquisitions, exploration, and oil and gas production.
Forward-Looking Statements:
The statements contained in this press release that are not historical are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements, without limitation, regarding the Company’s expectations, beliefs, intentions or strategies regarding the future. Such forward-looking statements relate to, among other things: (1) expected revenue and earnings growth; (2) estimates regarding the size of pre-drill reserve potential; (3) estimates regarding the size of post-drill reserve potential; (4) regulation of the Company’s industries and markets. These statements are qualified by important factors that could cause the Company’s actual results to differ materially from those reflected by the forward-looking statements. Such factors include but are not limited to: (1) the Company’s ability to locate and acquire suitable interests in oil and gas properties on terms acceptable to the company, and (2) the Company’s ability to obtain working capital as and when needed. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
Contacts: Petro Resources Corporation Wayne Hall (713) 968-9282 Don Kirkendall (713) 968-9290
SOURCE: Petro Resources Corporation