Arete Industries, Inc. Forges New Energy Alliances Targeting Known, Under-exploited Oil and Gas Reserves in Excess of One Billion Dollars Using Proprietary Data and Technology
Monday November 24, 6:31 am ET
NIWOT, Colo.--(BUSINESS WIRE)--Nov. 24, 2003--Arete Industries, Inc. (OTCBB:ARET - News) announced allied efforts from groups based in California, Colorado, New York, Utah and Texas to jointly finance and develop major under-utilized prospects, using proprietary technologies focused on modern GPS, logging, and advanced techniques for extraction of known overlooked, by-passed and abandoned energy reserves of in excess of $1 Billion.
Arete's proposed alliance brings together energy professionals with many years of expertise, combined with financing specialists, in order to further the master plan. Ultimately, Arete expects this and future alliances to provide the planned Master Fund with enough diversified opportunities to provide significant security and return on investment for the prospective fund investor.
Thomas Raabe, Arete CEO, stated, "We expect the first and second quarters of 2004 to provide our shareholders and future fund investors with enormous opportunities in the energy sector. We have invested time in identifying development projects, which we may seize for the benefit of our present and future investors. Our team continues to grow and with it our ability to more efficiently evaluate and pursue the best opportunities."
Statement as to Forward Looking Statements. Certain statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties not known or disclosed herein that could cause actual results to differ materially from those expressed herein. Such risks include the fact that the prospects being developed by the Company are not yet secured with contracts, nor have binding commitments for financing been obtained, and that the Company will likely compete with other investors for acquisitions or investments in viable projects that are more established and have far greater resources than the Company, and therefore no assurances can be made that the Company will be successful in obtaining financing nor in being the successful bidder for participation in the better opportunities.
Contact:
For Arete Industries, Inc., Niwot
James F. Chincholl, 720-842-1226
Fax: 720-842-1257
Email: jchincholl@aol.com
or
Thomas P. Raabe, 303-652-3113
Fax: 303-652-1488
Email: ir@areteindustries.com |
