Monday November 12, 9:53 am Eastern Time - Ness Energy in Final Negotiations With Leading Israeli Energy Company To Develop West Texas Oil and Gas Lease
Press Release
SOURCE: Ness Energy International, Inc.
Ness Energy in Final Negotiations With Leading Israeli Energy Company To Develop West Texas Oil and Gas Lease
WILLOW PARK, Texas, Nov. 12 /PRNewswire/ -- Ness Energy International, Inc. (OTC Bulletin Board: NESS - news) announced today that it is in final negotiations with a leading Israeli energy company to develop a 7,000-acre oil and gas lease located in West Texas. The lease has at least 26 potential drillable shallow offset wells and it is anticipated that the parties will enter into a 50-50 joint venture. Further details on the transaction are anticipated to be released shortly.
``We continue to work closely with many of the leading Israeli energy companies,'' said Hayseed Stephens, Ness Energy International's CEO. ``We believe that this transaction will be a blessing for our shareholders, the Christian community and Israel as it will allow us to begin to develop highly promising prospects right here in Texas. At the same time, it will allow us to enhance our growing relationships with the leading energy companies in Israel that should enable us to accelerate work on the Masada Lease in Israel and other leases. We believe that the combination of high-impact drilling ventures such as the Masada Lease combined with low-risk, shallow gas/oil drilling in Texas will give our company the right balance of excellent short- term revenues with compelling long-term prospects. We believe that our ability to attract companies to Texas the caliber of our potential partner from Israel is a strong endorsement of our business model and its potential for Israel and the World.''
Ness is also currently in negotiations with other Israeli energy companies on 11 other prospects on the eastern slope of the Permian Basin in Texas.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
For additional information or questions, call Rick Palmer at 817-341-1477.
SOURCE: Ness Energy International, Inc.
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