News for 'WWNG' - (WW Energy Provides Corporate Update)
FARMINGTON, N.M., Mar 10, 2008 (BUSINESS WIRE) -- WW Energy Inc. (Pink
Sheets:WWNG) President, Olin Glover, is pleased to update in order to clarify
developments that have occurred in the company over the past several months and
to expla in a shift in direction currently underway.
"Over the past several months we have been aggressively reviewing several
opportunities in the oil and gas area, to build an initial land bank with good
prospects to potentially develop into producing oil and gas fields. More
recently, as with the Success Oil acquisition, we have begun to focus on
purchasing producing oil and gas properties to take advantage of immediate cash
flows as well as further developing the producing acreage. In the near future,
we expect to announce further acquisitions of producing oil and gas properties
with infrastructure in place. In addition, several opportunities pertaining to
alternative energy have appeared and plans are underway to create a separate
division within the company should negotiations involving these opportunities be
successfully concluded. It's an exciting time for WW Energy and we want to make
sure shareholders understand where we're going and why."
WW Trucking Inc:
WW trucking is continuing to grow due to high demand for its services to the oil
and gas industry. As recently announced, the truck fleet has expanded by
thirty-five percent this year and is expected to grow even further. The company
also expects record revenues in fiscal 2008.
Recently, the company strategy has shifted to purchasing producing oil and gas
properties in order to create immediate cash flows. The announcement of
purchasing assets is the first acquisition involving this strategy. Negotiations
are ongoing with other properties and it is anticipated further announcements
regarding new acquisitions that will enhance immediate cash flows will be
forthcoming.
WW Energy Inc., is a holding company that was created to acquire oil and gas
service companies as well as oil and gas-related assets through two wholly owned
subsidiaries.
WW Trucking Inc., formed in 1999, is a leading oil an d gas services company for
the oil field services industry in Utah, Colorado, New Mexico and Arizona (The
Four Corners Area). Their existing business operations are in transporting fresh
production water for oil drilling/exploration and waste water for disposal. They
also provide services for heavy hauling of drilling and well equipment needed in
the oil and gas production and exploration industry.
Forward-looking statements
A number of statements contained in this press release are forward-looking
statements that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
involve a number of risks and uncertainties, including timely development, and
market acceptance of products and technologies, competitive market conditions,
successful integration of acquisitions and the ability to secure additional
sources of financing. The actual results of WW Ene rgy Inc. may achieve could
differ materially from any forward-looking statements due to such risks and
uncertainties, including but not limited to, the fact that no assurance can be
given that any proposed acquisitions will be consummated at all.
SOURCE: WW Energy Inc.
CONTACT: WW Energy Inc.Olin Glover, 505-326-1322 (Investor Relations)
Copyright Business Wire 2008
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