SEATTLE, June 12, 2007 (PRIME NEWSWIRE) -- Worldwide Energy Corp. (Pink Sheets:WWEG) is pleased to announce that the Company intends to make an application for listing of its common stock on the American Stock Exchange. The Company is engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas. Worldwide Energy Corp. plans to acquire additional leases to gain the capital needed to up list to the AMEX or a higher exchange such as the NASDAQ.
Worldwide Energy Corp. is currently in negotiations for additional leases with proven primary recoverable oil reserves. These leases will be in the Lake Caddo Parish of Northern Louisiana. Worldwide Energy Corp. will continue to utilize the same operators and management teams currently in place.
"Our eventual up listing to the AMEX or a higher exchange is one of the main business strategies of Worldwide Energy Corp. Our shareholders' value in Worldwide Energy Corp. is expected to increase as we continue to execute the necessary steps to up list to the AMEX," stated Davis Gates Smith, CEO of Worldwide Energy Corporation.
The Company recently announced that it has appointed Mr. Davis Gates Smith as Chief Executive Officer. Mr. Smith has vast experience as a founder and principal to oil and gas companies in Asia, South America, Africa and Russia.
About Worldwide Energy Corp.:
Worldwide Energy is an energy Company engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas in regions around the world. The Company targets properties with aim to build value for shareholders and produce solid revenue and profitability. The Company has recently focused on Caddo Pine, Louisiana, a region that, according to a March 2005 Department of Energy report, contains over 2 billion barrels of remaining oil in-place, and is the richest field in the Onshore Gulf Coast Basin.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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