HOUSTON, Oct. 19, 2004 (PRIMEZONE) -- Frontier Oil and Gas (Pink Sheets:FOGL) announced today that it began negotiations for exploration of oil and gas located in the Caribbean. Frontier is currently negotiating with a Caribbean joint venture partner in order to provide its services as an Oil and Gas Member Group of Exus Global Inc. (OTCBB:EXGO).
Frontier believes that through its agreements with Geoscanex -- Nevada Holding Group (Pink Sheets:NVHG), and Exus Global Inc., Frontier Oil and Gas may be able to win significant opportunities and confirm the commercial viability of oil located in the Caribbean.
"We are very excited that Frontier Oil and Gas may be able to demonstrate GeoScanex's technology and processes," stated Mr. Mancini of Frontier Oil and Gas.
About Frontier Oil and Gas LTD -- www.FrontierOilandGas.com
Frontier Oil and Gas LTD intends to become a worldwide company specializing in the extraction and production of oil and gas in partnership with Fowler Oil & Gas through both owned and leased properties within the Cook Inlet oil basin of Alaska. Fowler Oil & Gas is looking to develop both oil and natural gas reserves located in the Cook Inlet oil basin in Alaska. Current Gas Reserve is a fully documented reserve with an estimated 1.9 trillion cubic feet in the Cook Inlet Basin. Current gas reserves for the Cook Inlet Basin are a fully documented reserve estimated by the State of Alaska for the Cook Inlet Basin Region. Cook Inlet basin, located in south-central Alaska where the Fowler property is located, is approximately 250 miles from north to south and 70 miles wide. The basin contains coal deposits within the Tertiary Tyonek Formation across its entire extent and within the Chickaloon Formation at its northeast corner. These coals are part of an extensive continental depositional system in the Tertiary that exceeds 26,000 feet in thickness at the basin center. Tyonek coals beds are abundant and continuous, exceeding 40 feet in thickness.
www.dog.dnr.state.ak.us/oil/programs/shallowgas/coalbed_methane.htm
About Exus Global, Inc. -- www.ExusGlobal.com
Exus Global is a publicly traded Business Development Company (BDC) located in New York City. The company has initiated a strategy to create value for shareholders by investing in emerging companies that are positioned for strong industry growth or that have business models with strong cash flow potential. In addition to initial financing, Exus provides its portfolio companies with a variety of services including managerial and administrative assistance, back office support, pre-IPO and public listing planning, public relations and investor relations, marketing and feasibility studies and identification of strategic or financial partners. For more information see http://www.exusglobal.com.
About Nevada Holdings, Inc. -- www.GeoScanex.com
The Institute of Geoinformational Analysis of the Earth. For more information on the institute see their web site http://www.geoscanex.com.
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.