HOUSTON, Dec. 7, 2007 (PRIME NEWSWIRE) -- JR Oil and Gas, Inc. today announced the company has been acquired by Global Link Technologies, Inc. (Pink Sheets:GBLK) and requested the change of name and symbol.
JR Oil & Gas, Inc. started doing business in 2005 and was incorporated in 2006 as a Nevada Corporation. JR Oil & Gas was established to be a gas-biased oil and gas exploration and production company with activities in the prolific petroleum systems in Texas.
JR Oil & Gas' mission is to acquire known hydrocarbon assets and production development opportunities that consistently expand the cash flow and asset value of the Company, which in turn develop superior returns on investments.
JR Oil & Gas' development strategy is focused upon progressively expanding its base of hydrocarbon assets through acquiring at favorable prices, a formidable base of low-cost reserve based properties that display significant undeveloped up-side and immediate production capability. This strategy should increase yearly revenues while expanding book-able reserves to ensure the Company's long term growth and future competitiveness, which is based on the following criteria:
* The re-completion and expansion of existing producing reserves. * To strategically accumulate numerous acreage positions in high-impact areas. * To further develop high quality proven hydrocarbon reserves that possess significant up-side potential. * Maintain low-risk exploration initiatives in controlled producing land positions with high exploration potential through expansion of known undeveloped areas.
JR Oil & Gas' structure is based in three business units:
1.- Oil & Gas exploration and production. 2.- Oil & Gas production purchase. 3.- Real Estate holding and development
Recent business activities:
As a direct result of intensive working on 3-D seismic data, JR Oil & Gas has secured an exclusive lease to explore, drill, produce and market Oil & Gas on 121 acres of land situated in the prolific Oil & Gas area of Wharton County, Texas. Wharton County is a major producer of gas in the region, with over 835,902,402 million cubic feet produced since 1993.
"JR Oil & Gas always takes a conservative approach to drilling where it looks at multiple properties, multiple zone prospects, operator participation, offset production and 3-D seismic data with nominal risks and moderate returns. The Wharton Prospect meets, if not exceeds, these criteria," said Ms. Linda Hawk, President and CEO.
President and CEO.
Linda Hawk -- Ms. Hawk is a seasoned and highly regarded real estate professional with extensive experience in planning and development in the State of Texas. She received her real estate license in 1985, where she sold residential and commercial properties. Ms. Hawk was awarded the Prudential Presidents circle award.
Further information about JR Oil & Gas is available on the company's website: www.jroilandgas.com
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by JR Oil & Gas, Inc., (the "company"), as well as those contained herein, that are not historical facts are "forward-looking" statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.
The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.