PMDP - News out...
17/03/2010 8:04:00 AM - News Release
WINSTON-SALEM, N.C., March 17, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP) announced today that the company has obtained rights to 28 wells via the impending acquisition of MEI. The merger of MEI's oil and gas interest into PMD is expected to be complete by the end of the month.
Last month, Plateau signed a letter of intent to acquire Matthews Energy Investments, LLC (MEI). MEI is a research and development management company that receives income from successful development projects. Three current sources of income for MEI are from oil and gas projects in Kentucky, Oklahoma and Michigan, all of which have a positive cash flow.
Robert Matthews of Plateau Mineral Development, Inc., states, "We have devised and are implementing a plan to provide multiple income streams to PMD, Inc. The goal is for the company to increase shareholder value appreciatively in twelve months. The well properties we will be acquiring from MEI in Kentucky, Oklahoma and Michigan are a large step towards that goal."
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.
Forward Looking Statements:
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
CONTACT: Plateau Mineral Development Inc.
410-242-0763
AI
