After Acquisitions, Consolidated Oil and Gas Reduces Shares Outstanding by 40 Percent!; Management Anticipates Very Strong Upside in Growth Heading into First Quarter 2006.HOUSTON -- Consolidated Oil & Gas, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CSLG.PK), a publicly traded exploration and development company specializing in oil and natural gas drilling and re-entry RE-ENTRY, estates. The resuming or retaking possession of land which the party lately had. 2. Ground rent deeds and leases frequently contain a clause authorizing the landlord to reenter on the non-payment of rent, or the breach of some covenant, when the projects, announced today that its CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. & President Mr. Carl Yeatman is surrendering 20,000,000 shares of Consolidated stock, approximately half of his ownership, to the Company for cancellation. Mr. Yeatman's investment will permit the Company to continue aggressively pursuing acquisitions without dilution to shareholders. The cancellation will reduce the shares outstanding by 40 percent, and increase Consolidated's purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. . Mr. Yeatman stated, "Energy prices are at the highest levels in 20 years with no real signs of long-term reversal. With these additional 20 million shares, we can capitalize on current merger and acquisition prospects and take advantage of prices now and in the future. In this environment, growing our Company and revenues quickly makes sense." Mr. Yeatman further stated, "We've had great success with our Maverick Basin Flank project, and will be looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. similar and better prospects. My contribution of shares, along with the purchase of an additional drilling rig and the hiring of Mr. Steve Woods, a drilling expert with over 31 years of experience, should insure our shareholders that Consolidated is a fast forward moving company with stockholder value in mind." For more information please contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at (973) 351-3868 or visit www.consolidatedoilgas.com. About Consolidated Oil and Gas: Consolidated Oil and Gas, Inc. is a US based company engaged in the exploration and production of onshore domestic oil and natural gas properties. The company's exploration and production activities are focused primarily in Texas. Their mission is to apply strong technical expertise to unlock substantial oil and gas resources in areas where production can be achieved quickly and efficiently. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: This press release may contain forward looking statements, as defined in the Securities Reform Act of 1995. Actual events or results may differ from Consolidated Oil & Gas, Inc. expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties: including economic conditions, and availability of timely financing for projects. |
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