ILGY - News.International Energy Ltd. Shareholder Update
Wednesday January 31, 1:00 pm ET
ORLANDO, FL--(MARKET WIRE)--Jan 31, 2007 -- International Energy, Ltd. (Other OTC:ILGY.PK - News) (Frankfurt:I9E.F - News) wishes to advise its shareholders that the Company is continuing comprehensive due diligence on the oil fields in the Atyrauskeye and Mangystauskeye regions of Kazakhstan. The completion of due diligence is anticipated by the end of Q1 - 2007.
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CEO David Watson stated: "The oil fields being considered contain proven reserves of 140,000,000 barrels of which our Company is entitled to 70,000,000 barrels by virtue of our joint venture with the Kazakhstan government. At US$30 per barrel, this translates into US$2,100,000,000 in revenues for our Company, and on a discounted basis, this could add at least $1 to our share value."
About International Energy, Ltd.
International Energy, Ltd. intends to become a worldwide company specializing in the extraction and production of oil and gas. The company's vision is to establish and enhance the company's foundation for future growth by developing properties that provide a balance between short and long-term reserves in both the oil and natural gas markets. Oil and gas-related activities will include acquiring additional properties with potential for development and drilling. The company will work to establish and maintain a significant inventory of undeveloped prospects. The company emphasis is on production, cash flow and reserve value, which will be attained by exploring for, developing, and purchasing oil and gas properties worldwide.
Safe Harbor Statement
The preceding includes forward-looking statements, which involve known and unknown risks, and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. Any forward-looking statements above are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially due to a variety of factors, including, without limitation, competition, intellectual property rights, litigation, needs of liquidity, and other risks detailed from time to time in the company's reports filed with the SEC. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, continued acceptance of the company's products and services, competition, new products and technological changes, as well as any and all "other risks" associated with business.
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