HOUSTON, Jan. 31, 2003 (PRIMEZONE) -- Pursuant to provisions afforded through the United States Bankruptcy Code, Trinity Energy Resources, Inc. (OTCBB:TRGC) filed today in the Southern District of Texas a voluntary petition for protection under Chapter 11 of the Code.
The Company will continue to operate all business units and will release additional information in the near future as to its strategies and new focus upon reorganizing and restructuring. The Company believes this action was in the best interest of all shareholders and will diligently pursue the course necessary to operate unencumbered and with maximum possible efficiency.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, oil and gas exploration risks, commodity price volatility, production levels, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.