Creston Resources Ltd. Obtains Qualification to do Business Letter from the Bureau of Indian Affairs (BIA)
02 Mai 2008 - 2:45PM
Business Wire
Creston Resources Ltd. (Pink Sheets: CSTJ), effective April 25,
2008, obtained vital authority to conduct operations on Tribal
Lands from the BIA. Along with its qualification to do business
letter from the BIA, Creston also hand delivered all of its
leasehold assignments for approval by the BIA. The assignments have
been accepted by the BIA for processing and a receipt and
acknowledgement of the assignments accompanied the Qualification
Letter and is in the possession of Creston management. The
President of Creston, Mr. Brian R. Jones, is quoted as saying,
�This is a significant step in the evolution of Creston from an
early stage development company, to a significant production
company in the Unita Basin, with significant assets and endemic
production capability and undeveloped acreage with tremendous
upside. Creston has the aggressive business plan to exploit these
wells and leasehold acres.� The assignments which were hand
delivered to the BIA represent over 8000 net leasehold acres to
Creston and a significant portion of its undeveloped assets. Mr.
Brian Jones is working to enhance as much production from these
Indian leases as equipment and personnel will allow on an expedited
time frame. About Creston Resources LTD Creston Resources is an
emerging oil and gas exploration and production company focused on
the development in the prolific Uintah basin of Utah. The company's
strategy includes increasing production by reworking its lower
production wells (which may include, in some cases, perforating new
zones) and drilling new wells from among the offset and infield
locations available on its acreage. Most locations are believed to
offer multiple prospective pay zones, from moderately shallow to
moderately deep. Creston will also seek additional opportunities to
acquire projects with production and/or acreage with proven or
potential reserves. About Forward Looking Statements Statements
contained in this release that are not historical facts are
forward-looking statements that involve risks and uncertainties
which may cause the company's actual results in future periods to
be materially different from any results discussed in or implied by
such forward-looking statements. Such risks and uncertainties
include, without limitation, the company's ability to acquire
productive oil and/or gas properties and to successfully drill and
complete oil and/or gas wells on such properties, the inherent
uncertainty of oil and gas exploration and production, general
economic conditions, as well as other risks and uncertainties that
may be detailed from time to time in additional documents issued by
the company. Readers are cautioned not to place undue reliance on
any forward-looking statements. The company assumes no obligation
to update any forward-looking statements contained in this
document.
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