NEW ORLEANS, LA-- (OTC Markets ? August 1, 2013) - Lighthouse Petroleum, Inc. (?Lighthouse?) (PINKSHEETS: LHPT), a growth oriented energy company focusing on the exploration and production of oil and gas, is pleased to announce that over the last two months the management team has completed a business review and has made the following recommendations to improve the value of the company.
1. Change the business model away from focusing on reworking wells and changing the management structure of the company. The first objective will be to hire a full time geologist and engineer as part of the management team. During this change over we are also recruiting new advisors and directors to assist the Board.
2. Acquire new opportunities that have the potential of new drilling both domestic and foreign. The initial primary focus area of interest for the new drilling will be along the South Eastern part of Texas (Eagle Ford Shale Region) and the Tuscaloosa Marine Shale in Louisiana. After hiring the proper management the objective will be to acquire up to two locations. The secondary location will be international opportunities.
3. Lighthouse plans on opening a subsidiary for the purpose of acquiring oil and natural gas royalty assets, mineral rights and fee mineral acreage. This subsidiary business operation will focus on the mid-continent region of the U.S. in the states of Texas, Louisiana, Oklahoma, Arkansas, Kentucky, Kansas, Colorado, New Mexico, and Colorado.
4. During Q3 and Q4 of 2013 Lighthouse plans to hire a licensed broker dealer to assist management in developing a short and long term capital strategy. The main objective is dealing with the toxic legacy debt that a dates back as far as 2006 & 2007 on the books. Management believes this is a real issue and Lighthouse plans to recruit professional assistance which will address the issue and clean the company up. .
5. Relocate the Corporation?s headquarters and hire new operators to manage the current assets of the company.
6. Launch a new interactive website to allow shareholders and investors to gain information and get better corporate updates. The new website will be catered more for mobile devices.
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