DGAP-News: STEALTH ENERGY INC. : STEALTH NOW POISED
(firmenpresse) - STEALTH ENERGY INC. / Agreement/Joint Venture
11.03.2010 12:06
Dissemination of a Corporate News, transmitted by
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Mon 1 Mar 2010 CNSX symbol: SLH
News Release 01/10 Frankfurt symbol: S16
Our update in November of last year was cautiously optimistic. We are
pleased to now report that interim events
have been positive for Stealth Energy Inc. ('Stealth'). We have substantial
development properties in both oil and
gas. Now that gas prices have improved, we are currently moving ahead with
development on both fronts in both
sectors.
At Teapot Dome in Wyoming, our neighbour the U.S. Naval Petroleum Reserve
#3 has approached us with a view
to cooperation on both a water and CO2 flood. We believe that in the short
term this will be extremely beneficial to
our production. Accordingly, we are in current discussions with a view to
immediately assist the U.S. Department
of Energy to move forward to our mutual benefits.
In Montana, we have received positive news on our joint venture at Rapelje.
Our first well was drilled successfully,
and the plan is to connect this to pipe and have the gas in commercial
production as early as the end of next week.
At that juncture Stealth will be in a position to provide more details as
to flow rates.
We are currently in ongoing discussions with several potential joint
venture partners. We believe that through joint
ventures our production can be immediately enhanced at no dilution to our
shareholders and remain optimistic with
the implementation of this business plan.
The Company has approved the issuance of one million shares under its stock
option plan at an exercise price of 25
cents to its officers, directors, employees, and consultants. This is the
second issuance of options under the Stealth
stock option plan, making the total options outstanding at three million.
The Company is pleased to announce the appointment of Carolin Schella as
Chief Administrative Officer to
coordinate the Canadian and USA offices and operations. The Company is also
pleased to announce the retainer of
the services of the Delphina Group Corp. out of Toronto to represent the
Company with its investment relations.
Stealth Energy Inc. is a producing oil&gas company with its field office
in Billings, Montana, USA. The company develops its own
properties and continues to seek and make acquisitions, primarily within
Montana and Wyoming. For further information please contact
Carlo Nigro at (604) 669-7831 or stealthenergy(at)telus.net.
Stealth Energy Inc.
'John Campbell'
John Campbell
President
The Canadian National Stock Exchange (CNSX) has not reviewed this news
release and does not accept responsibility for its adequacy or accuracy.
This news release does not constitute a solicitation to buy or sell any
securities in the United States.
11.03.2010 12:06 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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