Yaterra Ventures Enters New Quarter with Detailed Strategy for Success in the New Fiscal Year
9 hours 51 minutes ago - Close-Up Media via Comtex
Yaterra Ventures Corp. announced it will enter its new fiscal year this September 1st with a focused plan to harvest sustainable revenue sources in the form of revenue producing leases in the State of Texas.
According to a release, the company will look to make formal offers which will effect immediately toward an aggressive implementation of Yaterra's business plan, beginning with transactions currently under negotiation that, upon closing, will generate revenues for the Company in the upcoming quarter that foster long term shareholder value through 2012 into 2013.
Yaterra's immediate focus is to purchase existing and / or near production from established producing operators as a base to begin the building process. The initial area of activity will be Texas. "The intermediate goal is to utilize positive cash flows generated from production to perform workovers and recompletions as we look to build a diverse business model with multiple revenue streams", states CEO, Cedric Atkinson.
YTRV is also currently in discussions with key individuals toward development of a seasoned management team with vast industry experience and know-how, including an established operator who has produced over 200,000 BBL and 700,000 MCF since 2002.
As part of the overall objectives, Yaterra has recently contracted with a Houston based auditor with knowledge in the Oil and Gas industry. This change was made as part of the Company's continual efforts to establish a base in the region.
Company executives agree that the current situation in the oil and gas industry, and the opportunities presented by it, offer an extremely favorable window of opportunity that must be acted upon now. Favorable industry fundamentals, including soft crude oil and soft natural gas prices, advances in drilling, completion and fracture stimulation techniques, coupled with ready access to infrastructure will allow the Company to pursue several attractive oil investment opportunities. The company plans to share an important announcement by end of week.
Atkinson concludes, "I also want to make our shareholders aware, that in the new Fiscal year, the company will be releasing monthly updates on our process, creating a Q/A blog for the shareholders. Our goal is to accessibility to our shareholders alongside transparency in reporting. Please look forward to exciting updates in the new Fiscal year that I am confident will move the Company forward in an aggressive, systematic manner." Questions for the company can be sent to ceo@yaterra.com
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