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SOURCE: Regions Oil & Gas, Inc.
Jan 28, 2008 09:59 ET
Regions Oil & Gas Acquires American Energy Savers
DALLAS, TX--(Marketwire - January 28, 2008) - Regions Oil and Gas (PINKSHEETS: RGNO) today announced that it has acquired American Energy Savers of New Haven, CT.
After a little more than a week on job interim President Rick Papaleo was fast at work and completed the acquisition of American Energy Savers.
American Energy Savers is a family owned and operated business that prides itself on customer satisfaction. Since 1985, AES has offered its customers cutting edge products with superior workmanship. AES is one of the leading contractors for the state of Connecticut's energy conservation programs and has also participated in many projects for Yale School of Architecture. AES has dedicated itself to providing its customers with outstanding products and excellent service.
"This acquisition is a great deal for Regions Oil. The company has strong revenues with growing profits. It is important that management adds value to Regions and American Energy Savers does just that," stated Rick Papaleo, President of Regions Oil & Gas.
American Energy Savers has contracts with projected revenues exceeding 2 million dollars with an expectation of a 20% increase over 2007.
Additional announcements are expected shortly with regard to a name change, new President and other company matters.
Also, the company is preparing a "State of the Company" that will include a Balance Sheet and a list of Assets with details regarding the assets. The target date is the week of February 4.
About Regions
The company is a holding company with a strategy seeking to aggregate various business models to operate and enhance for sale or to participate in its subsidiaries becoming fully reporting companies and move to the OTCBB.
Disclaimer:
Statements released by Regions Oil and Gas, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
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