Arete Gas Drilling Joint Venture Attracts New Strategic Partners Seeking Arete's Participation in Drilling Partnerships and Aid in Funding.Energy Editors/Business Editors NIWOT, Colo.--(BUSINESS WIRE)--April 13, 2004 Arete a·rête n. A sharp, narrow mountain ridge or spur. [French, from Old French areste, fishbone, spine, from Late Latin arista, awn, fishbone, from Latin, awn. Evaluates These New Potential Revenue Producing Opportunities Arete Industries, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARET A`ret´ v. t. 1. To reckon; to ascribe; to impute. ) received numerous inquiries from potential financial resources, drilling partners, and other energy companies seeking financial and drilling partners since its announcement of its 24-Well Texas Gas Drilling Program. Arete will evaluate both the financial viability and the project potential of these opportunities in upcoming weeks. Thomas P. Raabe, Arete 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. , stated: "We are thrilled thrill v. thrilled, thrill·ing, thrills v.tr. 1. To cause to feel a sudden intense sensation; excite greatly. 2. To give great pleasure to; delight. See Synonyms at enrapture. with the initial response to both our program and to other public announcements that we have made. We believe that Arete will participate in some of these new energy industry opportunities and that the strength of our team will enable us to add structure, expertise and value to energy programs, as we have to our own." Statement as to Forward Looking Statements Certain statements contained herein, which are not historical, are 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. that are subject to risks and uncertainties not known or disclosed herein that could cause actual results to differ materially from those expressed herein. Such risks include the fact that oil and gas exploration and drilling projects contain a significant degree of risk including market risk, technical geological ge·ol·o·gy n. pl. ge·ol·o·gies 1. The scientific study of the origin, history, and structure of the earth. 2. The structure of a specific region of the earth's crust. 3. A book on geology. and engineering uncertainties, and financial risk to the Company and prospective investors and project developers. Investors and project sponsors alike tend to be highly risk adverse and will take into account the brief track record of the Company and its partners in assessing the benefits of pursuing potential opportunities together with the Company. No assurances can be made that new opportunities being presented to the Company will be viable nor, if pursued, will be successful. Furthermore, no binding commitments for new joint ventures, strategic partnerships or financing have been achieved at this time, and the Company can provide no assurances that it will be successful in its business development efforts in this direction. For Further Information Contact: Company Contact: Thomas P. Raabe, CEO and Chairman of the Board Email: ir@areteindustries.com Arete Industries, Inc. 7102 La Vista Place, Suite 100 Niwot, Colorado 80503 Voice: 303-652-3113 Fax: 303-652-1488 |
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