WRNW and David Rees Fulfills His Pr Statements
Excerpts from recent PR”s validating we are on track with what has been stated.
Well Renewal Signs Binding LOI With Team Services LLC
TULSA, Okla., April 18, 2007 (PRIME NEWSWIRE) --
David Rees, WRNW CEO, stated, "We are very excited about working with Team. We see a tremendous fit on both a business and personal level with Team's management and are looking forward to working closely with Don and Tim Tinker for years to come. We also feel fortunate to have their talents available to WNRW at the corporate and strategic level."
Tim Tinker, Team Services, LLC, Managing Member commented, "We are pleased to have found partners who have the same commitment to servicing our customers that we have had over the years. We look forward to moving ahead with strategic initiatives to grow and expand our business to new levels."
Team's overall revenue has shown considerable growth since 2002, increasing from $4 million to $13.6 million (Unaudited) for the year ended December 31, 2006 with an adjusted EBITDA of $2.7 million. Well Renewal, Inc. will have 60 days to complete its due diligence and enter into a definitive Purchase Agreement
Well Renewal Signs Definitive Purchase Agreement With Team Services LLC
TULSA, Okla., July 2, 2007 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW),
David Rees, WRNW CEO stated, "Since we first met Team and its management group and entered into a Letter of Intent, we have all been working diligently to move this process forward. We are very excited that this process is moving forward smoothly and we anticipate a closing within early 3rd quarter. I would like to take this opportunity to reiterate that we are very excited about working with Team. We see a tremendous fit on both a business and personal level with Team's management and are looking forward to working closely with Don and Tim Tinker for years to come. We also feel fortunate to have their talents available to WNRW at the corporate and strategic level."
Tim Tinker, Team Services, LLC, Managing Member commented, "We have all been working hard since we signed the letter of intent to move this course of action forward. Team appreciates everyone's hard work on this transaction. We remain very enthused about moving ahead with strategic initiatives to grow and expand our combined businesses to new levels of success."
Team's overall revenue has shown substantial growth since 2002, increasing from $4 million to $13.6 million (Unaudited) for the year ended December 31, 2006.
Well Renewal Issues Open Letter to Shareholders
TULSA, Okla., May 18, 2007 (PRIME NEWSWIRE) --
Excerpt:
In the past six weeks we have entered into two binding letters of
intent. The first with Team Services of Michigan. Team has a
incredibly experienced management team, headed by Don and Tim Tinker. Team should generate approximately $14 million in revenue in 2007, resulting in approximately $4 million in EBITDA. We are very excited about integrating Team, as well as utilizing Don and Tim's vast knowledge and experience at Well Renewal.
The second letter of intent executed is with Cementer's Well Service in Colorado. Like Team, Cementer's is run by an exceptionally experienced and skilled senior management team, headed by Rose and Jack Stoller. Rose and Jack have been running the business for 30 years. Again, we are excited to work closely with them and integrating them into the Well Renewal fold.
Further, our board has determined WRNW will sell all of its owned lease assets (oil and gas) and concentrate on continued M&A activity for continued growth. Therefore, I ceased all drilling activity and am preparing appraisals for the assets to be sold. I am meeting next week with an oil services company in west TX and other prospects are under consideration. I am in initial discussions with perspective buyers for the lease assets.
Well Renewal Signs $1.8 Million LOI to Sell Leases
TULSA, Okla., Aug. 8, 2007 (PRIME NEWSWIRE) -- Well Renewal, Inc. (Pink Sheets:WRNW), an emergent, rapidly growing diversified oil and gas regional operator, specializing in oil and gas exploration, enhanced recovery methods of abandoned and low-production oil properties and oil field services, is pleased to announce that it has entered into a letter of intent with USA Superior Energy Holdings, Inc., a Houston, TX based Oil and Gas energy company, to sell its operating leases in Northeastern Oklahoma. The transaction sale price is in the amount of $1.8 million. After an appropriate due-diligence period, it is anticipated that closing will occur on or before the end of 3rd quarter.
WRNW CEO David Rees said, "This is an excellent development for WRNW. These sales fit nicely with our goal of transitioning the company into the oil and gas services business. We are pleased with the terms of the transaction. As we have previously stated, we have been looking for a buyer for our leases for the last several weeks and have been pleased with the negotiations with USA Superior Energy Holdings, Inc.
There you go Rees said he di it!
