TULSA, Okla., Jan. 30, 2008 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW), an emergent, rapidly growing diversified oil and gas regional operator specializing in oil and gas exploration and enhanced recovery methods of abandoned, low-production oil properties, with an emphasis on oil field services, is pleased to announce that the dividend for all shareholders of record as of December 3, 2007 has been paid. Each shareholder shall receive one share of Diversified Oil and Gas Holdings, Limited (Pink Sheets:DVFI) for every sixteen shares of WRNW owned as of December 3, 2007. These DVFI shares were mailed by the transfer agent on Thursday, January 17, 2007.
David Rees, WRNW CEO, stated, "We feel that this dividend enhances shareholder value for each of our shareholders." Mr. Rees continued, "WRNW is excited about the partnership with DVFI and we anticipate that the companies will work very well together on a going forward basis to capitalize on the many opportunities that abound with the current price of oil. We are very excited about both the financial and strategic partners we are working with." According to Mr. Rees, "We have exerted a tremendous amount of effort over the past ten months in locating the right partners and the proper types of acquisitions. We are confident that our efforts are beginning to pay off."
WRNW is continuing on its path of spearheading acquisitions in the oil and gas services area. WRNW management has joined with significant investors in pooling collective resources to bring improved value to WRNW shareholders.
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 DVFI
Diversified Oil & Gas Holdings Limited is a diversified investment venture capital firm. Its principal business is focused on exploiting and distributing domestic oil and gas reserves. The domestic fuel market is presently estimated to exceed $10 billion.
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 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.