International Energy, Ltd. Announces Merger
International Energy, Ltd. (PINKSHEETS: ILGY) (FRANKFURT: I9E) is proud to announce that the Company has entered into a formal merger agreement with a mining company with extensive coal mining claims in Mexico, Central Africa and the U.S.A.
The merger partner currently holds rights for nearly 5,000 hectares (12.500 acres) of coal that is located approximately 150 miles south of the border with Texas. This coal project currently is conservatively estimated to yield approximately $8 million revenue in year one alone.
CEO David Watson stated: "The merger between both companies is a combination of sound management and the addition of exciting new projects for our Company to be a part of. Our shareholders will realize now that we want to not only participate in projects closer to our Corporate Headquarters but also in different sectors. As for our ongoing oil and gas projects in Central Asia, the Board will move to appoint additional directors from that region in order to oversee all developments with respect to those projects."
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.
April 18, 2007 - 9:30 AM EDT
International Energy, Ltd. Announces the Appointment of a New Board of Directors
International Energy, Ltd. (PINKSHEETS: ILGY) (FRANKFURT: I9E) is proud to announce that the Company has replaced its current board and has moved to appoint a New Board of Directors in keeping with its merger agreement.
Jefferson Bootes will become the Company's new President, Chief Executive Officer and Director. He was the President of Diversified Mining Group Inc., the merger partner with International Energy, Ltd., and has presented coal prospects to International Energy, Ltd. The most notable project brought to the Company's table by its merger partner is the "Monclova" coal project which boasts monthly output up to 20,000 tons.
Alex Khodja will become the Corporate Secretary and Director of the Company. He is charged with the oversight of the Company's oil and gas projects in Central Asia.
All former board members and officers of the Company have been replaced with the announcement of these new board appointments.
To round out all of the new changes at International Energy, Ltd., the Company's Headquarters have been moved to 400 N. Phelts Avenue, Winter Park, Florida 32789 effective immediately.
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.
What do you guys make of all of this...
This is starting to look like witches brew
Everything is coming full circle
AI
