Aladdin Oil Corp. Secures Funding for Southern California Lease Project.Business Editors LOS ANGELES--(BUSINESS WIRE)--Jan. 24, 2000 Aladdin Oil Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADDN ADDN Addition ADDN Additional ADDN Automated Defense Data Network ) today announced that it has secured all the necessary funding to immediately commence one of the cornerstones of the AOC AOC, n an acronym for the Aromatherapy Organizations Council. corporate growth strategy: its sizable Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, leasing project named Black Gold. The Black Gold project is constructed to exploit Aladdin Oil Corp.'s subsurface sub·sur·face adj. Of, relating to, or situated in an area beneath a surface, especially the surface of the earth or of a body of water. Adj. 1. oil and gas easements EASEMENTS, estates. An easement is defined to be a liberty privilege or advantage, which one man may have in the lands of another, without profit; it may arise by deed or prescription. Vide 1 Serg. & Rawle 298; 5 Barn. & Cr. 221; 3 Barn. & Cr. 339; 3 Bing. R. 118; 3 McCord, R. , which are considered by management to be one of the crown jewels crown jewels Ornaments used at the coronation of a monarch and the formal ensigns of monarchy worn or carried on state occasions, as well as collections of personal jewelry consolidated by European sovereigns as valuable assets of their royal houses and the offices they of AOC's assets. The securing of the aforementioned funding now enables AOC (through both the leasing and subsequent drilling) to bring one its long-term expansion goals to fruition. The petroleum reserves in the target area are estimated at 9 million barrels of oil and 11 million cubic feet of gas. The current market value of the reserves in project Black Gold is approximately $165 million. Meghan Robins, president and chief executive officer of Aladdin Oil Corp., said: &uot;This project has been an important element in the growth strategy of Aladdin Oil Corp. for many years. Now, through our ability to commence exploiting our assets in this proven oil field, we will be able to greatly increase shareholder value and equity.&uot; Aladdin Oil Corp. is an independent energy company engaged in the exploration for and the acquisition and development of oil and gas properties primarily in the states of Texas, Louisiana and California. In addition to historical information contained herein, this news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. subject to various risks and uncertainties that could cause the company's actual results to differ materially from those in the forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as &uot;may,&uot; &uot;will,&uot; &uot;expect,&uot; &uot;intend,&uot; &uot;anticipate,&uot; &uot;estimate,&uot; &uot;continue,&uot; &uot;present value,&uot; &uot;future,&uot; &uot;reserves&uot; or other variations thereof or comparable terminology. Factors that could cause or contribute to such differences could include, but are not limited to, those relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company's growth strategy, outstanding indebtedness, dependence on weather conditions, seasonality, expansion and other activities of competitors, changes in federal or state environmental laws and the administration of such laws, and the general condition of the economy and its effect on the securities market. While the company believes its forward-looking statements are based upon reasonable assumptions, there are factors that are difficult to predict and that are influenced by economic and other conditions beyond the company's control. Investors are directed to consider such risks and other uncertainties discussed in documents filed by the company with the Securities and Exchange Commission. |
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