DALLAS, Oct. 3, 2006 (PRIMEZONE) -- Tyche Energy Inc. (Other OTC:TYEG) announced that in a recent transaction the Company has acquired eight oil wells.
Tyche Energy Inc. is extremely excited about this substantial acquisition and the potential it offers to expand our land bank as well as our existing asset base. Motivated by the possibilities the project brings, the Company intends to fully maximize the exploitation of the Oklahoma-based oil properties.
"These oil wells purchased reflect the Company's strategic intention to pursue a significant position in the U.S oil and gas industry," stated Tyche Energy's President, Leo Lodder.
Tyche Energy Inc., in accordance with its corporate vision, will continue to pursue sound intelligent business opportunities today and in the future.
Website: www.tycheenergy.com
About Tyche Energy Inc.
Tyche Energy Inc. operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Elgin, Middlesex, Lambton, Kent, and Essex Counties, Ontario. In addition to its main operating focus, the Company is actively exploring projects in the Appalachian and Michigan Basins.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.