Irwin Energy to Become Major Player in Diamond Industry
Tuesday August 8, 9:46 am ET
VANCOUVER--(MARKET WIRE)--Aug 8, 2006 -- Irwin Energy Inc.(Other OTC:IWNE.PK - News) is pleased to announce that its solely owned subsidiary Mayflower Explorations, Inc. has entered into an LOI (Letter Of Intent) with Great West Investments & Referrals LTD to acquire 90% of the company's diamond assets.
"The areas that we are looking at on these properties are located in Fort a La Corne Saskatchewan, which is located approximately 60km east of Prince Albert," stated Jason Ashdown, COO of Irwin Energy.
The Properties of interest are situated in the middle of major corporations in the diamond industry, including De Beers and Shore Gold.
Jason Ashdown also stated, "One of the reasons why Irwin Energy Inc. is so unique is because we are not only focusing our assets in oil and gas, but we are diversifying our position in other resources, thus giving the company and our shareholders a stronger asset base."
About Irwin Energy
Irwin Energy, Inc., based in Vancouver, B.C., was founded for the purpose of engaging in the exploration, acquisition, development and production of crude oil and natural gas, and related activities. In the oil and gas arena, Irwin Energy seeks out low-risk opportunities to develop positive cash flow from proven and probable oil and gas plays. Irwin Energy plans to grow exclusively through efficient reinvestment of its internally generated cash flow in exploration and production operations, and through limited external financing to build ancillary businesses.
Safe Harbour Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.
Contact:
Contact:
Kenan Williams
+1.604-608-0810
Pavel Doukhine
+1.604-608-0832
Email: info@irwinenergy.com
Source: Irwin Energy, Inc.
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