EDMONTON, Alberta, July 10, 2007 (PRIME NEWSWIRE) -- Mr. Mark Dorin, President & Director of COSCO ESP Inc., (Pink Sheets:CCPI), ("COSCO") or (the "Company"), would like to announce that the Company continues to actively seek equity investment and debt financing to fund existing orders. In the past six months progress has been made in these attempts; however, COSCO has yet to secure the complete financing required to fulfill its order financing and working capital requirements. This information is being provided to shareholders as an update to those who have participated and those that are yet to participate in any financing opportunities with COSCO.
COSCO is seeking smaller scale financings that will, once aggregated, become sufficient to cover its present order financing and working capital requirements. These funds will be specifically used to cover work in progress requirements and the operational overheads of the Company. COSCO will be providing more information in this regard in the coming days. In the interim period, the Company encourages any investors to register online at http://www.coscoesp.com/investors/request_info.htm to ensure that all relevant information is sent directly to them.
COSCO ESP Inc. is a publicly traded on Pink Sheets under the symbol "CCPI", and is an established manufacturer and service provider of down-hole Electric Submersible Pump related equipment in the oil and gas industry. The Company's advanced technology oilfield pumping and monitoring equipment allows for more efficient extraction of oil from new and existing underground oil reservoirs. COSCO is active in several countries in the Middle East as well as Africa, Russia, China and Southeast Asia.
The COSCO ESP logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2346
No Stock Exchange has reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management. Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined within the "safe harbor" provision as contained in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results.