FORT-LAUDERDALE, Fla.,
Oct. 10, 2012 /PRNewswire/
-- Xtra Energy Corp. (Pinksheets: XTPT) announced today
that the company will return to its core business of oil and gas
and is currently in the final stages of negotiations for
the acquisition of exploration and near production oil and gas
properties in North America.
Xtra Energy undertook to acquire a gold mining property in
Democratic Republic of Congo,
Africa in May of 2012. Now
after several months of consideration, the board of directors have
unanimously decided to divest of all its mining assets, and focus
its efforts on acquiring oil and gas properties in North
America. The company is in discussion with another publicly
traded company for the sale and transfer of its various African
properties and to concentrate solely on oil and gas.
"We have been in discussions and negotiations for several months
now with very promising exploration and near term production on the
oil and gas prospects in North
America. This shift in direction was possible due to the
unique and exciting opportunity that the company was introduced
to," said Ms. Linda MacDonald,
President of Xtra Energy Corp. "The return to our roots will assure
a strong focus to provide the highest possible return for our
shareholders," further added Ms. MacDonald.
About Xtra Energy Corp.
Xtra Energy Corp. is a publicly traded oil and gas exploration
company, seeking to acquire and develop oil and gas properties in
North-America.
This news release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Act of 1934, as amended;
such statements are subject to risks and uncertainties that could
cause actual results to vary materially from those projected in the
forward-looking statements. The Company may experience significant
fluctuations in operating results due to a number of economic,
competitive and other factors. These factors could cause operations
to vary significantly from those in prior periods, and those
projected in forward-looking statements. Information with respect
to these factors, which could materially affect the Company and its
operations, are included on certain forms the Company files with
the Securities and Exchange Commission.
Contact:
Xtra Energy Corp.
Investor Relations
954-366-2932
SOURCE Xtra Energy Corp.
