SAN DIEGO, May 13, 2020 (GLOBE NEWSWIRE) -- Ziyen Energy has announced they have acquired their latest acquisition in exchange for ZiyenCoin. This time acquiring a working interest in a shale gas project in Kentucky.
David Douglas Greenberg, Chairman, stated,
“As crude prices remain depressed, oil producers are moving beyond stopping new drilling projects but are also scaling back existing output and shutting in production.
With an oil price of over $40 our project of tokenizing energy assets on the blockchain was initially seen as a high risk option for the majors in a multi-billion dollar industry but due to Covid-19 old assumptions are out the window and risk has taken on a new dimension as the world continues to face a global pandemic.”
Alastair Caithness, CEO, added,
“We have now made multiple acquisitions in ZiyenCoin in interests in projects in Texas, Kentucky, Illinois, Indiana and Louisiana. These have included oil and gas mineral interests, royalty interests, overriding royalty interests, and non-operated working interests.
We will continue with our aggressive approach to make multiple acquisitions in the current market, as we believe in the long-term future of the global energy industry.”
About Ziyen Energy:
Ziyen Energy is a technology-driven energy company incorporated in the State of Wyoming, U.S.A. in April 2016. Originally formed as a software company providing information on the oil, gas, power and energy sectors, Ziyen specializes on business information, contracts, news and information by developing cutting edge procurement and supply chain software to provide clients with intelligence on industry specific government and private contracts. In addition, Ziyen Energy currently owns interests in oil assets based in Texas and the Illinois Basin, which covers Illinois, Indiana and Kentucky. The equity of Ziyen Energy has been tokenized and issued as ZiyenCoin which is offered for sale as a Security Token pursuant to SEC Rule 506(c) of Regulation D.
For more information visit www.ziyen.com.
Forward Looking Statements:
Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing, performance goals, and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in the Company’s periodic reports filed with the SEC- specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the company on the date of this press release. Ziyen Energy assumes no obligation to update the information in this press release.