Well Renewal Accepts Investment Bankers' Funding Proposal For 'Cementers' M&A


TULSA, Okla., May 31, 2007 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW) an emergent, rapidly growing diversified oil and gas regional operator, specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties, oil field services, is pleased to announce that all aspects of its previously announced acquisition of Cementers Well Service, Inc., a privately held Colorado company specializing in cementing services for oil, gas and water wells has accepted a $7MM investment banking funding proposal for the "Cementers" acquisition financing from the Irvine, CA-based Investment Banking firm of Hunter Wise.

As previously announced (May 3, 2007), Cementers is a Greeley, Colorado based service company providing comprehensive cement related services primarily in Colorado. They are known for their excellent service and are highly respected in their industry.

David Rees, WRNW CEO stated, "We are very pleased that our investment bankers have confirmed that Cementers is a quality acquisition and that funding, subject to normal audits and due diligence, will be in place to close the transaction on or before the anticipated timeframe." Mr. Rees continued, "Cementers fits perfectly with our strategy of acquiring solid, growing businesses run by intelligent, ethical operators. I continue to be immensely impressed with Jack and Rose Stoller, the founders and managers of Cementers, who will remain WRNW officers and continue to grow their core business following completion of the merger."

About Well Renewal, Inc.

Well Renewal, Inc., headquartered in Tulsa, Oklahoma, is principally engaged in oil and gas exploration as well as enhancement and recovery of abandoned and low production oil properties, and oil field services, and is actively acquiring businesses in the oil and gas industry.

About Hunter Wise

Headquartered in Irvine, California, Hunter Wise Securities is a NASD Broker/Dealer and SIPC Member Firm, which is wholly owned by Hunter Wise Financial Group, LLC. Hunter Wise Financial Group provides mid-market investment banking services from 10 offices in North America and the United Kingdom. www.hunterwise.com

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.


            

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