PHOENIX, Jan. 20, 2006 (PRIMEZONE) -- Golden Apple Oil and Gas, Inc (Pink Sheets:GAPJ) is pleased to announce that Mr. Stephen L. Foan has accepted the position of Secretary and Treasurer for Golden Apple Oil and Gas, Inc. Mr. Foan brings over 30 years of experience to the company. "He is a brilliant financial strategist and understands how to execute his plans," says Jay Budd President and CEO. "With Stephen at the head of our finance team the company is well postured for acquisitions and growth," Budd went on to say. Mr. Foan will also serve as a company director.
Golden Apple Oil and Gas, Inc. is actively seeking to acquire additional oil and gas properties and assets. The company plans to make a "public request for proposal" from companies seeking to sell their oil and gas assets. "We are in the early stages of discussion with individuals and companies with resource properties in Argentina, Guatemala, Texas and Alberta, according to company officials. "In keeping with our commitment to inform our shareholders and the public as it happens, we will release additional news related to the opportunities we currently are reviewing, in real-time," quoted Mr. Budd.
Headquartered in Phoenix, Arizona, Golden Apple is an independent oil and gas producer with a focus on North and South American properties. The Company applies advanced technologies to systematically explore and develop its oil and natural gas opportunities. Golden Apple focuses its activities where technology can be used effectively to maximize returns on invested capital by reducing drilling risk and enhancing its ability to cost-effectively grow reserves and production volumes.
This media release may contain forward-looking statements regarding, but not limited to, management, market potential, distributor success, market size, international sales, marketing, future events and performance of the Company which involve risks and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could cause actual results to vary from current expectations and the forward-looking statements contained in this media release.