ST. PETERSBURG, Fla., April 14, 2009 (GLOBE NEWSWIRE) -- Adventure Energy Inc. (OTCBB:ADVE), an energy exploration company with operations in the Appalachian Basin, is pleased to announce that the Company's stock has been approved to trade on the Over-the-Counter Bulletin Board under the symbol ADVE.OB. In addition, the Company's stock has been approved to be DTC eligible.
The Company maintains 2700 acres of leased mineral rights in Kentucky and West Virginia, as well as one currently shut-in natural gas well (100% Working Interest) in Morgan County, Kentucky. The Company intends to produce from the Troy Ison #1 well within the next few months after the purchasing company's pipeline completes its current maintenance.
Management intends to continue to pursue leaseholds adjacent to the Company's current property as well as in opportunistic regions. In addition, the Company intends to initiate and complete 2-3 drilling programs over the next 12 months, while simultaneously pursuing acquisitions of previously drilled wells. The Company expects to initiate drilling for the White Oak Quad project, which was announced in our March 27, 2009 10-K filing.
"This is an exciting time for management and shareholders," said Wayne Anderson, President of Adventure Energy, Inc. "We anticipate that the Company will have several exciting announcements in the near future regarding our operations. The decline in oil and natural gas prices has opened the door to many opportunities for exploration and development not only in our current area of operation but in energy prolific regions."
About Adventure Energy, Inc.
Adventure Energy, Inc., is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The Company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2008. Contact: