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Gold/Mining/Energy : PAPT - Palisades Petroleum Corporation
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From: wanderingstocks111/17/2012 9:26:32 AM
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"Palisades Chairman Makusha Gozo Announces the Imminent Move to OTC Markets Group Inc.'s "OTC Pink™ Current Information" Tier and Closes on the Petroleum Asset Purchases From Durst Fund LLC.



BALTIMORE, MD--(Marketwire - Jan 13, 2012) -

  • Palisades' (PINKSHEETS: PAPT) Management team is pleased to announce plans for a listings change from the Grey Market to "OTC Pink™ Current Information." A market maker has been selected to accomplish this goal.
  • Palisades' Makusha Gozo also stated that he was pleased to report the fourth quarter earnings will reflect a double-digit percentage increase from the previous quarter primarily due to the increase in market share captured by both the Barclay Development LLC automotive division, and the Shumba Inc. cocoa trade division pursuant to the new strategies discussed in preceding press releases.
  • Palisades is currently one of the largest distributors of Cocoa in West Africa.
  • Gozo's intent is to have future quarterly earnings reported in audited financial statements to solidify Palisades' effort to qualify for a NASDAQ listing.
    • Revenues continue to improve primarily due to greater opportunities for new contracts and contract extensions in the West African and Asian petroleum industry. These contracts will be vended into Palisades from the Durst Fund LLC. which will result in a significant increase in gross revenue in Q2 of 2012.

    Palisades' senior management has completed plans to travel to West Africa over the next several weeks. The same West African Gulf of Guinea represents at least seven percent of the World's crude oil reserves according to some geologist's estimates. The impact of this trip and conclusion of certain contractual obligations will ultimately result in a significant increase in Palisades' earnings. Please visit our website for any and all updates, to view our financial statements, and to read our Disclosure Statement."


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