LOS ANGELES, May 15, 2012 /PRNewswire/ -- Chancellor
Group, Inc. (OTCBB: CHAG), a Texas-based oil producer, announced today
plans to set up an additional division within the company.
Chancellor Deputy Chairman, Dudley
Muth, said today, "We are pleased to announce that at a
recent meeting, the Board of Directors of Chancellor Group, Inc.
(CHAG) elected to pursue opportunities in the commercial internet
business space by establishing an Internet Division within CHAG.
The Firm has been presented with some ideas for business within
this new Division and has interviewed several people to chair this
space, including an individual with internet experience in both
the United States and the
United Kingdom.
"This addition should not be viewed as the Firm leaving the oil
and gas sector, but rather an opportunity to attempt to add value
for CHAG's Shareholders. The Firm continues to operate four
producing oil wells and one water disposal well in Gray County, Texas where CHAG holds a Texas
Railroad Operator's license. The Firm also continues to explore
expanding its oil and gas sector."
About Chancellor:
Chancellor Group Inc. engages in the acquisition, exploration
and development of natural gas and oil properties as well as
assessing business opportunities in other fields. It is based in
Amarillo, Texas and Los Angeles, California. For fuller
information see Chancellor's filings at www.sec.gov
Safe Harbor Statement:
This Media release contains statements which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of Chancellor Group, Inc., and members
of its management as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to
management that could cause actual results to differ materially
from those in forward-statements include fluctuation of operating
results, the ability to compete successfully and the ability to
complete before-mentioned transactions. The company undertakes no
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results.
Contact:
Thomas Nelson
Investor Relations
480-326-8577
shareholders@TheChancellorGroup.com
SOURCE Chancellor Group Inc.
