LONDON / March 6, 2014 / TagLikeMe Corp. (TAGG), today announces the acquisition of Nola Energy, Inc., an oil and gas exploration company with assets in Duval County, TX.
Nola Energy, Inc. has leases to multiple oilfield properties, primarily in southwest Texas. These leases include:
- P.E. White Lease: 1,215 acres in Duval County, TX, with a total of 13 wells and an estimated 2.5 million barrels of recoverable Mirando-quality crude oil on the lease.
- Bishop Cattle Company Lease: 480 acres in Duval County, with 17 production wells onsite, currently all shut-in. Two wells will be immediately placed back into production, one of which was recently production-tested for 10-12 bpd. There are multiple productive zones on this underdeveloped property.
- Moody & West Lease: 183 acres in Duval County with 7 wells, all having produced viable oil from oilsand formations. These wells are believed to have significant reserves remaining behind pipe and undeveloped sands.
Gerard Danos, CEO of Nola Energy, Inc. stated, “This is a great opportunity to bring TagLikeMe Corp back to its roots in oil and gas production. These recently acquired leases will bring immediate production and revenues to the company.
Richard Elliot-Square also stated “For some considerable time, I have been reviewing the future direction of the company and I feel that the time is right to transition back to oil and gas, where the company can sustain profits and revenue while at the same time retaining licensing rights to the web portal.
Forward Looking Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Lighthouse Petroleum, Inc. is an exploration company with limited experience in the oil and gas industry. At the time of this release Lighthouse Petroleum, Inc. lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Lighthouse would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider are that this list is limited and additional risk not mentioned may apply: failure to meet Lighthouse's financial and contractual obligations, Lighthouse's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
Gerard Danos, CEO
Nola Energy, Inc.
Source: TagLikeMe Corp.
Release ID: 35233