Valor Energy Corp - Letter To Shareholders
SALMON ARM, BC, Oct. 8 /PRNewswire-FirstCall/ -
Dear Fellow Valor Energy Shareholder,
Let me first say thank you for your continued support and patience!
No doubt, these have been trying times for all of us! It has now been almost one year since one of the most devastating global economic collapses seen in some 75 years...and Valor has certainly felt the effects! Contractual obligation to service our debt with common shares, combined with extremely low commodity prices and an almost non-existent investment climate, has forced us to take drastic actions to preserve and create opportunity to grow value; actions that we would not otherwise have anticipated. Through various initiatives, such as, focusing on our core business, divesting of non-key assets, and successfully negotiating restructures to certain debt agreements ...we have been able to meet our obligations and continue to successfully weather the storm!
The recent reverse split to our issued and outstanding shares and change in our symbol to VLEN has been one action that has been difficult for most to accept, and naturally so! It is with great care that I avoid any attempt to portray this reverse as anything but unfortunate ...to say the least! However, though painful, the reverse split has created a more attractive structure to potentially attract key financing that would not otherwise be available, and thereby provide the means to potentially capitalize on the tremendous opportunities that exist for expansion. I believe that our current initiatives will pay off with increased shareholder value in the long term.
Here also I would like to briefly address concerns that many of our shareholders have expressed regarding the "ominous" warnings that some markets are placing on our stock and the subsequent inability to trade. I want to belay fears by reassuring shareholders that these warnings are not nearly as "ominous" as they appear and that the situation should be resolved very shortly. We will be providing an additional press release very soon that will contain a full explanation that will not only clarify the situation, but also, detail our new plans to move forward.
In closing, I would like to again thank shareholders for their involvement with Valor Energy Corp! I would like to re-enforce our commitment to weathering the current financial crisis and, what's more, take advantage of the opportunity to position ourselves to capitalize on economic recovery and the return to prosperity that will bring!
Sincerely, Sheridan B. Westgarde Chief Executive Officer About Valor Energy ------------------
Incorporated in Nevada, Valor Energy Corp (VLRN) is an energy development and production company with working interests in Texas with plans to expand into Canada. Valor Industries Ltd., (VIL), VLEN's wholly owned Canadian subsidiary, provides proven management to VLEN to create long term value for shareholders and partners. For more information, log on to www.valorenergy.com.
CONTACT: Valor Energy Corp., Investor Relations - Contact VLEN, (250) 833-1985 Or Email - [email protected]
SOURCE Valor Energy Corp.
Valor Energy Announces Appointment of Investor Relations & a Plan for Website Enhancements
Thursday August 14, 6:00 am ET
SALMON ARM, BC--(MARKET WIRE)--Aug 14, 2008 -- Valor Energy Corp. ("Valor" or "Company") (Other OTC:VLRN.PK - News), an energy development and production company, is pleased to announce two significant initiatives designed to further enhance shareholder awareness.
First, Valor is pleased to announce the hiring of Patterson & Associates, Huntington Beach, California, to provide investor relations services to the Company. Mr. Patterson's background includes a very successful career of more than 30 years in business, emphasizing marketing, sales, and business development while at such companies as IBM, Honeywell, and Tandem Computers. This past decade he has combined this knowledge and experience with his strong interest in the investment community, focusing on companies in the emerging market arena, to offer investor relations support and other consulting activities to selected customers. Mr. Westgarde commented, "Prior to hiring Mr. Patterson, I engaged with him in numerous discussions over a period of many months, and am very pleased to now enter into this new relationship with him. I appreciate his honest and straightforward assessments and I believe he will communicate to our shareholders with accuracy and integrity."
Second, Valor is pleased to announce the engagement of Left Right Minds Creative Solutions of Vancouver, BC, to further enhance the Company's website. We expect improvements to greatly enhance the viewing experience to our website visitors through a more powerful and dynamic presentation. The work is expected to take between 4 - 6 weeks.
As previously reported, Valor is currently working on several initiatives to enhance Company value through diversification in the energy sector. We would like to thank our shareholders for their patience and continued support.
To learn more about Valor Energy please visit our web site at www.valorenergy.com.
About Valor Energy
Incorporated in Nevada, Valor Energy Corp. is an energy development and production company with working interests in Texas and plans for expansion to Canada. Valor Industries Ltd., (VIL), Valor Energy Corp's wholly owned Canadian subsidiary, provides proven management to its parent to create long term value for shareholders and partners. For more information, log on to www.valorenergy.com.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "will," "anticipated," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. The Securities and Exchange Commission has generally permitted oil and gas companies in their filings with the SEC to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use the terms probable and possible reserves, reserve potential or upside or other descriptions of volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC's guidelines may prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the Company. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. The reserve data included herein represents only estimates. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact manner. As a result, estimates of different engineers often vary. The estimates of reserves, future cash flows and present value are based on various assumptions, including those prescribed by the SEC relating to oil and natural gas prices, and are inherently imprecise. Our reserves and future cash flows may be subject to revisions based on many factors. It is possible that the assumptions made by management are not necessarily the most likely, and may not materialize, including but not limited to the possible undeveloped gas reserve. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Valor Century Corp. takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
Patterson & Associates
Valor Energy Provides Corporate Update
Tuesday August 12, 6:00 am ET
SALMON ARM, BC--(MARKET WIRE)--Aug 12, 2008 -- Valor Energy Corp. ("Valor") (Other OTC:VLRN.PK - News), an energy development and production company, is pleased to offer its shareholders and other interested investors an update on notable events concerning the company. It is Valor's intention to continue these updates at intervals during the year or when events warrant it.
Valor CEO, Mr. Sheridan B. Westgarde, provided the following summary to shareholders:
"We have just completed the normal field and draft processes on schedule, in the preparation of our Annual Report that will be filed on Form 10-KSB. Our auditors will now complete their procedures, with my full expectation being, that filing will occur within the time frame as provided for under SEC regulations for 'fully reporting issuers' as ourselves. We are current in our financial reporting and we fully qualify to apply for relisting on the Over the Counter Bulletin Board (OTC BB:BB.OB - News) listing service. We are in the early phase of that process.
"Certainly, there is valid concern being expressed in the low performance of the market price of our stock, however our company fundamentals have never been stronger. Since May of 2008, our principal investors have elected to convert Valor debt into significant amounts of equity. I believe that such conversions have resulted in obvious pressure and may have created the perception in the market of a level of company weakness that we believe does not exist. While performing these conversions maintains our contractual obligations, we are in ongoing discussions with our financiers in an effort to achieve much more positive results in our market capitalization. We intend to announce positive information regarding Valor revenues, reserves and growth activities in the coming weeks."
Mr. Westgarde continued, "Recently, certain events have transpired (that are not described here), involving a company who is both the project operator and the major joint interest participant in the Sargent South Field, Hamill, and Hamill leases, which have caused concern among some of our shareholders. I would like to reassure investors that we have been unaffected by these events to date and do not expect any problems in the future. Our assets in this field are secured at the state and county levels and operations are proceeding without interruption. We have been given assurances that development plans for these leases will proceed as expected and our lawyers are continuing to closely monitor the situation to ensure our interests remain unaffected. As disclosed in our recent financial filings with the Securities and Exchange Commission, we are planning to participate in the development of the reserves in place on the project. As of January 2007, our report issued by R.A. Lenser and Associates Inc., Consulting Petroleum Engineers and Geologists of Houston, Texas, reported Valor reserves of 44,000 MCF proved producing, 205,000 MCF proved undeveloped and 2,064 MCF (2.06 billion cubic feet) of possible undeveloped reserves."
CEO'S PREFERRED STOCK HOLDINGS:
In April of 2007, Sheridan Westgarde, CEO, received 2,007,194 shares of Series A Convertible Preferred shares in exchanged for stock commitments and approximately $300,000 of monies owed to him, including cash loans provided to Valor. The Certificate of Designation for these shares, as filed with the Nevada state and the Securities and Exchange Commission, provide for these shares to convert into approximately 123 million shares of the company's common stock. During May of 2007, Mr. Westgarde filed a letter with Valor and its Board, irrevocably canceling the conversion rights pertaining to these preferred shares. Mr. Westgarde commented regarding his actions, "I did this because I wanted to demonstrate my commitment to the process of building this company." He continued, "I want to ensure that Valor is managed in a way that is in the best interests of its shareholders and debtors."
During January 2008, the Company sold all of its interest in a large scale manipulator system technology, to Hollund Industrial Robotics Inc. Mr. Westgarde summarized the transaction benefits, "Selling this technology to Hollund has accomplished major objectives for us. We have been able to improve shareholder value by canceling the only other remaining block of 1,776,196 Series A Convertible Preferred shares held by a former executive. This preferred stock, if converted, would have resulted in an increase to the outstanding common of 108,347,956 shares. The cash that was committed in the deal has already generated important cash flow to fund our proven natural gas development in the Sargent South field operations. Also, the transaction involved Hollund assuming certain other weighty stock commitments and the elimination of certain notes payables from the Company's balance sheet, further improving our Company's liquidity and cash flow. The elimination of additional R&D expenses, required to commercialize the technology, is consistent with our continued focus on increasing operations and revenue in our primary energy sector. Additionally, we have reduced our shareholders exposure to development risk that is inherently associated with any new technology development. Valor is considering potential opportunities that may be available to market this technology in related industries going forward.
The Company is currently working on several initiatives to enhance the Company's value through diversification in the energy sector. We would like to thank our shareholders for their patience and continued support.
To learn more about Valor Energy please visit our web site at www.valorenergy.com.
About Valor Energy
Incorporated in Nevada, Valor Energy Corp (Other OTC:VLRN.PK - News) is an energy development and production company with working interests in Texas and plans for expansion to Canada. Valor Industries Ltd., (VIL), VLRN's wholly owned Canadian subsidiary, provides proven management to VLRN to create long term value for shareholders and partners. For more information, log on to www.valorenergy.com.
Valor Energy Corp.
Investor Relations - Contact VLRN
Email - [email protected]
VLRN Announces Name Change and New Corporate Initiatives
SALMON ARM, BC, Jun 02, 2008
Formerly traded as Aquatic Cellulose International Corp. (AQCI.PK), the Company today announced that they have successfully completed the process to change the Company name to Valor Energy Corp., with the new trading symbol (PINKSHEETS: VLRN). VLRN's wholly owned Canadian subsidiary is now Valor Industries Ltd. Since 2004, the Company has been active in the energy development and production industry, with working interests in the on-shore and off-shore Gulf of Mexico.
Additionally, the Company today announced that development of a completely new look website is virtually complete. This site www.valorenergy.com will feature exciting new upgrades to the Company's corporate branding and easy to navigate access to all of the Company's latest news and developments. New and existing Shareholders who have signed up for the Company newsletters will begin receiving development and progress updates as they become available. Sheridan Westgarde, chief executive officer of VLRN, stated, "With this corporate action now complete we are very pleased to be in a position, today, to begin launching exciting new initiatives that will highlight our growing value and ongoing developments in this booming energy market." He concluded, "We are inviting shareholders to stay tuned for future announcements."
About Valor Energy
Incorporated in Nevada, Valor Energy Corp. (VLRN) is an energy development and production company with working interests in Texas and plans for expansion to Canada. Valor Industries Ltd., (VIL), VLRN's wholly owned Canadian subsidiary, provides proven management to VLRN to create long term value for shareholders and partners. For more information, log on to www.valorenergy.com.
Contacts: Valor Energy Corp. Investor Relations - Contact AQCI (250)-833-1985 Or Email - [email protected]
SOURCE: Valor Energy Corp.
Outstanding as of Nov. 7, 2008, ~226MM shares $0.001 par value
Outstanding as of July 10, 2009, 627,589,889 shares, par value $.001