TORONTO, Nov. 29, 2005 (PRIMEZONE) -- Suncrest Energy (Pink Sheets:SNYY), which specializes in oil and gas exploration and drilling, has completed negotiations to acquire 75% of an Russia oil company from the former Soviet Union -- DDM from Amerossi Holding Corporation. Located in the Permskiy region of Russia, the company is currently in production and profitable, and with our help, we expect to increase that profitability over the next several years.
"Having finalized the negotiations to acquire the first of what we see as potentially several natural resource companies located in Russia part of the former Soviet Union, this we add significantly to the value of Suncrest over the short term and we anticipate over the long term as well," said David Alexander, Chairman. "DDM's management brings many years of experience to Suncrest in the operational side of oil companies and to have there expertise will certainly benefit Suncrest for many years to come."
About Suncrest Energy
Founded in Toronto, Canada, Suncrest Energy (Pink Sheets:SNYY) is engaged in oil and gas exploration and drilling programs for itself and other companies. Our goal is to become a major player in the development of worldwide natural resources to benefit our shareholders and the communities where we operate.
Forward-Looking and Cautionary Statements
Statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, as discussed in the company's filings with the Securities and Exchange Commission. Suncrest Energy undertakes neither intention nor obligation to publicly update or revise any forward-looking statements. Suncrest Energy and the Suncrest Energy logo are trademarks or registered trademarks.