SEATTLE, June 26, 2007 (PRIME NEWSWIRE) -- Worldwide Energy Corp. (Pink Sheets:WWEG) is pleased to announce that Mr. R.Revell Murphy has signed a contract to extend his role as President of the Company over the next two years. Mr. Murphy founded Worldwide Energy Corp., serving as President and CEO.
Mr. Murphy has over 20 years of experience in the public, private equity, and venture capital markets. Working primarily with startup and early-stage emerging ventures, he gained extensive experience in analyzing and assessing business plans and models. Mr. Murphy has provided strategic advice on growth and finance objectives, including the biotechnology, hi-tech, gaming, entertainment, mining, real estate, diamond brokerage, and oil and gas industries.
"Mr. Murphy has put in play many of the ventures to which the Company is currently involved. We feel that his knowledge and experience are valuable assets that will spur significant growth in the near future for Worldwide Energy," stated David Gideon Thomson, Director of Worldwide Energy Corporation.
The Company recently announced that six oil wells in the Lake Caddo Parish of Northern Louisiana, which it acquired from Thacker and Thrash in 2006, are completely operational. Worldwide Energy Corp. will produce an estimated total of 234,265 barrels of primary recoverable oil from the six wells and will continue to utilize the same operators and management teams currently in place.
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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