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Tuesday NEWS for ACLY

Tue Apr 26 2011 11:23:58 AM EDT
BusinessWire, GlobeNewswire and PR Newswire News
Arcland Energy Corp ACLY:OTC
Arcland Energy Executes MOU with Russian Company for Kumskaya Neft.
PR Newswire
11:23 AM ET
Arcland Energy Corporation (OTC: ACLY), an independent oil and gas company, is pleased to announce the execution of a Non-Binding Memorandum of Understanding ("MOU") with the Russian company ZAO Neftemontazhspetsstroi ("ZAO") to acquire a 74.99% ownership interest in Kumskaya Neft, LLC ("Kumskaya Neft") aprivateindependent oil and gas exploration and production company in the Russian Federation. The MOU facilitates the terms of the acquisition between the companies and relates to the completion of final exploration and the construction of infrastructure on the Kumskaya Neft oil and gas production project, located in the Khanty-Mansy Region of the Russian Federation. In addition, Arcland will maintain the rights to develop, own, operate and manage a pipeline project reserved for its own oilfields and other targeted areas in the Russian Federation. An updated reserve report related to the Kumskaya Neft project, prepared by Miller & Lents, is expected t o be completed before the end of the second quarter 2011.

Highlights

* Proposedacquisitionwill create a joint American-Russian oil subsidiary company with twocore areas; exploration and production;

*Kumskaya Neft owns 100% of the interests in the targeted areas of exploration;

* 2D and 3D seismic reports are available to delineate additional potential oil and gas structures in the targeted areas.

* P10 resources of 25.17MBmm barrels of oil based on the Miller & Lents independent Reserves Report.

About Arcland Energy Corporation