iTalk Inc. (fka TALK)

[FunGuns09]

http://www.marketwired.com/press-release/italk-inc-diversifies-into-oil-and-gas-industry-otcqb-talk-1980964.htm

FT LAUDERDALE, FL--(Marketwired - Jan 7, 2015) - ITalk, Inc. ("TALK") today announced that its recently formed subsidiary, Limestone Energy Holdings, Inc. ("Limestone"), has issued a Purchase and Sale Agreement to acquire all of the members interest in Hilliard Bender Energy, LLC, an oil and gas operator that currently owns the mineral rights to two leases in Montgomery County, Texas. With proven, undeveloped drilling locations, each capable of producing 100-150 BOPD (Barrels of Oil Per Day) and approximately 450 MCFPD (Millions Cubic Feet Per Day) with 400 acres of land under lease.
Limestone was formed by TALK in late 2014 to develop a diversification strategy for TALK outside of the communications industry. With the dramatic recent drop in world oil and gas prices, management of TALK, along with their advisors, realized a unique window to enter the lucrative energy sector. David Levy, CEO of Talk stated, "we are fortunate to have surrounded ourselves with some expert advisors and future potential partners who are very familiar with the international oil and gas industry, and are assisting us in entering this market. Much like the recent boom in US real estate when the market is low, that is the time to buy, not at its peak."
Tripp Camper of Hilliard Bender Energy has 30 years of Executive Management experience in banking, energy, financial services, and telecommunication companies. His businesses have raised substantial amounts of capital, while leading the creation of initial and secondary public offerings, venture capital, joint venture and private equity financing. He has been the Managing Partner in the Oil and Gas properties in Texas to include Hilliard Bender Energy and Coyanosa Resources. He is the former CEO and President of InZon Corporation, a mobile cellular services company. Mr. Camper was creator and founder of Elandia, Inc and served as its Chief Executive Officer and President through initial public offering. He served on the Boards of Directors of seven Elandia subsidiaries of the DaTec Group of companies in the Pacific Island Nations. Previously, he was the CEO and President of the Morgan-Dos Development Company, a telecommunications tower infrastructure company which sold to Mastec Corporation, a NYSE company, where he joined the Executive Management Team. Mr. Camper was also a partner in TowerCom, a company that builds, develops and owns cellular towers. He is actively involved in the Broward Sheriffs Advisory Council.
As part of this diversification strategy TALK has begun exploring strategic options to either partner its communications business with other similar entities or divest this portion of the business if the oil and gas business of TALK becomes significant, so that management will ultimately focus on one business segment.
About: - ITalk, Inc
iTalk, Inc. (OTCQB: TALK) is a publicly traded global provider of advanced communications and mobile broadband services. The Company utilizes innovative and disruptive technologies, including Voice-over-IP (VoIP), nationwide 3G/4G mobile broadband networks, smartphones, and mobile applications ("apps") to offer consumers the highest-quality low-cost no-contract alternatives to voice, data, and mobile services from major national carriers. For further information, visit www.italkmobility.com.