JMCP Corp.: JMCP Corp.: (Pink Sheet: JMCP) Important Update to Shareholders
Aug 01, 2007 (M2 PRESSWIRE via COMTEX) -- James Monroe Capital Corp. President, Frank Love makes the following statement, "Progress in securing the $270 Million Dollars worth of Sludge Oil, the Oil field with 48,000,000 barrels of reserves and the 154 Stripper Wells, is an uphill battle. A battle that we will win." Love also states, "We new this would be a tough mission. I want to show the shareholders just a glimpse at what we are up against. The following is an accurate exert from an online encyclopedia. " Nefteyugansk (Russian: ????????´? 089;?) is a city in Khanty-Mansi Autonomous Okrug, Russia. The city is located south of the Ob River, close to the larger city of Surgut. Population: 107,830 (2002 Census). It is served by Nefteyugansk Airport.
The city was founded on October 16, 1967. Prior to that, an oil field had been discovered in 1961. The main and the only big enterprise in the city Yuganskneftegaz was founded in February of 1966. "Yugansk" - comes from the Khanty (aboriginal) name of a small river near the city, "nefte" means oil in Russian, and "gaz" is natural gas. The economy of the city remains petroleum-based, and was a major centre for the Russian oil enterprise YUKOS, which owned Yuganskneftegaz. In fact, the "Yu" in "YUKOS" comes from the "yu" in "Nefteyugansk" and therefor from "Yuganskneftegaz". Other three leters come from the oil-refining factory "Kuibyshev-Org-Sintez", situated in Samara city (former name in the USSR was Kuibyshev city). The city remained considerably poorer than Surgut because of bad salary policy of YUKOS oil Company; and people try to move to Surgut to work for another famous Russian oil company - "Surgutneftegaz". It is not easy because of the considerable differences in prices for housing between Nefteyugansk and Surgut.
In June of 1998, the mayor of the city, Vladimir Petukhov, was shot and killed, and a Yukos employee was charged with the murder. Petukhov had been one of Yukos's critics. On September 20, the deputy mayor of Nefteyugansk, Dmitry Yegortsev, was assailed and wounded with a knife. Another deputy mayor, Igor Gribanov, died in a fire at his home in 2006[1]. Since January 2005 Yuganskneftegas belongs to the State Owned Oil Company - "Rosneft". People still live in the city under stress and uncertainty.
Love further states, "For security reasons, we are moving our offices. We have asked all JMCP Acquisitions Corp. Officers, Employees and Corporate representitives to refrain from public statements. We have removed certain addresses from State and Federal filings at the permission of said Governmental offices. Those close to these deals wishing to exit JMCP Acquistions Corp. have our blessing. We have all documentation stored in Quadruplicate in serveral vaults around the United States. These are purely precautionary measures." Love goes on to state, "I am fighting tooth and nail for the company and it's shareholders. That Oil is ours and no one will take it away from us. " Love finishes by stating, "To those that oppose us, to those wishing to bring harm to us, You will not be successful in your endevors.
About James Monroe Capital Corporation
James Monroe Capital Corporation is a publicly traded holding company that focuses on acquisitions, start-ups and oil ventures around the globe. The company solicits purchase contracts in the oil sector for stable income to build shareholder value. These efforts are "opportunistic and time-sensitive deals" often involving distressed situations where other parties have something very valuable they are about to lose entirely or economically not practical for larger companies. These are the type of acquisitions or buyouts James Monroe Capital Corporation subsidiary, JMCP Acquisitions Corp. will soon be announcing to its shareholders. Over the next 12 months JMCP shareholders will experience a totally remade James Monroe Capital Corporation focused in the Oil sector, Gold sector and Uranium sector.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at presswire.net on the world wide web. Inquiries to info@m2.com.
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And the status of the acquisition???
May 15, 2007 - 6:31 AM EST
SPRL 0.003 0.00
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Strat Petroleum Reaches Agreement with James Monroe Capital
Strat Petroleum, Ltd. (OTC:SPRL), an emerging exploration and development company focusing on oil and gas opportunities in the Russian Federation, today announced that it has signed a letter of intent to form a joint venture with James Monroe Capital for the processing of waste/sludge oil in Bashkorstan.
The terms to complete the joint venture include initial capital funding by James Monroe of up to $1 million, with further funding available upon successful completion of between 2-3 processing plants.
Management’s recent trip to the Russian Federation included meetings with local authorities and oil refineries, and visits to a number of new sites for establishment of processing plants. These new reservoirs have greater hydrocarbon content creating the opportunity for much stronger revenues and profits.
Sam Hyams, President & CEO of Strat, stated, “I am excited by this new relationship with James Monroe, as the possibilities for funding opportunities presented in oil waste/sludge reservoirs and support available from the James Monroe team’s knowledge, experience and network in the oil and gas industry will be very beneficial to both Companies.”
Currently Strat is working on securing licenses for processing oil waste that will allow it to secure 100% of the rights to process the reserves in the reservoir, thus not requiring local joint venture partners.
Strat is pursuing a couple of other projects which will be announced in the near future along with further information on progress regarding oil waste processing.
About Strat Petroleum: |
