DALLAS, April 28, 2009 (GLOBE NEWSWIRE) -- Southwest Hydrocarbons, Inc. (the "Company"), formerly known as Apollo Drilling, Inc. (Pink Sheets:APDR), today announced its new strategic focus. The Company's new management stated that the business will be centered on the exploration, acquisition, and production of oil and natural gas in the southwestern United States, initially in portions of Oklahoma.
The Company owns various oil and gas lease positions in northeastern Oklahoma where it intends to pursue the drilling of shallow wells for the production of natural gas. The Company's management believes that current economic conditions dictate an extremely low cost of operations for all facets of exploration, which creates opportunities for the development of these existing properties.
The Company will also pursue the acquisition of oil and gas properties with existing cash flows, as the economic situation has created numerous opportunities for buyers in this sector.
The Company's Chairman of the Board of Directors, Mr. Clark Boyles, stated, "I've witnessed many of these economic cycles throughout the last 40 years, with many ups and downs in the industry. I believe this is an ideal time to take advantage of the conditions and pursue these opportunities in order to bring maximum value to the Company and its stockholders."
Southwest Hydrocarbon's Chief Executive Officer, Mr. Pat Berry, commented, "With the work being done to bring the company's reporting financials current, we are positioning the company to pursue growth through acquisitions and development of properties."
About Southwest Hydrocarbons, Inc.
Southwest Hydrocarbons, Inc. is focused on upstream oil and gas exploration, development, and production. The Company is currently in the process of constructing its new website.
This press release includes "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.