BETSY LAYNE, Ky., April 24, 2007 (PRIME NEWSWIRE) -- Consolidated Energy, Inc. (OTCBB:CEIWE), a coal producer operating in Eastern Kentucky, announced today that its Board of Directors has engaged Stonegate Securities, Inc., Dallas, Texas, to assist the Company in exploring and evaluating available strategic alternatives to maximize shareholder value, including joint ventures, sale and/or merger of the Company. The Company has not set a specific timetable to complete the closing, if any, of a strategic transaction.
About Consolidated Energy, Inc.
Consolidated Energy, Inc., through its wholly-owned subsidiary, Eastern Consolidated Energy, Inc. leases the coal mineral rights on approximately 20 million recoverable tons of coal in Eastern Kentucky.
This release contains statements that are "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current estimates and projections about Consolidated's business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. Examples of forward looking-statements include the estimated closing date of any strategic transaction. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements due to numerous factors. Such factors include, but are not limited to, Stonegate being unable to generate any interested party in entering into a transaction with Consolidated, or the parties' to a potential transaction being unable to agree on the terms of a definitive agreement. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission including the Company's most recently filed Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB, which should be read in conjunction herewith for a further discussion of important factors that could cause actual results to differ materially from those in the forward-looking statements.