Xtreme Oil & Gas Completes Third Party Valuation of $102 Million
(firmenpresse) - PLANO, TX -- (Marketwire) -- 08/17/11 -- Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) announced today that over the last 18 months, the Company has been successful in filing with the Securities & Exchange Commission a Form 10 and a S-1 Registration Statement (both approved), a 15C-211 with FINRA through Spartan Securities (approved), three years of Audited Financials and as part of the process of becoming a fully reporting company updated and completed a third party private valuation that concluded the Company was worth $102,520,900 or $2.24 per share today.
The valuation was performed using several methods including discounted cash flow, price to earnings based on market comparable data, and book value. The results from each method were combined and averaged to determine a fair value for the Company.
Willard G. McAndrew III, CEO of Xtreme, (4th generation former Exxon employee), commented, "We have made substantial and steady progress executing our business model, bringing projects online, and acquiring assets for our Company. With a number of projects nearing completion, our experienced management team, and increased reserves, we are closer to generating significant oil production and saltwater disposal bringing additional returns to our shareholders."
Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas.
Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company's ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the Company's reports filed with the Securities and Exchange Commission.
Xtreme Oil & Gas, Inc.
(214) 432-8002
Investor Relations:
The Eversull Group, Inc.
Jack Eversull
972-571-1624
214-469-2361 fax
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Datum: 17.08.2011 - 09:16 Uhr
Sprache: Deutsch
News-ID 1031463
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