Cambridge Energy Corp. Retains Merchant Bankers to Pursue Acquisitions and an Exchange Listing.Business Editors COCOA, Fla.--(BUSINESS WIRE)--Aug. 22, 2000 Cambridge Energy Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CNGG), an oil & gas exploration and production company with producing properties in Louisiana and Indonesia, today announced that it has retained the merchant banking services of LBI LBI Long Beach Island (New Jersey Shore) LBI Leo Baeck Institute LBI Limited Background Investigation LBI Legally Binding Instrument LBI Leveraged Buy In LBI Long Baseline Interferometer LBI Last Block Indicator Group Inc. to assist the company in identifying various potential acquisitions and joint-venture opportunities. Paul Lovito, president of LBI Group Inc., stated: "I will be working very closely over the coming months with management at Cambridge, and with my associate, Mr. J. Larry Adams, president of Adams Business Consultants Inc. to assist the company in building its oil and gas asset base, and increasing revenues. "Concurrent with these activities, we believe we can position the company such that it will meet the requirements for an American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. listing. Once all requirements have been satisfied, we will work with the company to file an application with the American Stock Exchange for its consideration." LBI Group Inc. is a merchant banking firm specializing in mergers, acquisitions, business consultation, and venture capital services. The firm has assisted private companies going public as well as publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. in raising capital in the $0.5 million to $2 million range. Lovito has been involved in the financial industry for more than 12 years. He has provided numerous services to private and public companies, including venture capital, restructurings, mergers, acquisitions, and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most . Adams Business Consultants Inc. is a business consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a that specializes in capital restructuring and financial analysis. Adams has more than 35 years of finance and banking experience. He has served in senior management of various banks and as an executive vice president for a publicly traded company. Perry West, chairman and chief executive officer of Cambridge Energy, stated, "We have reached a point where the company is ready to move to the next level. Our annual revenues tripled in our most recent fiscal year, and in our most recently reported quarter we achieved profitability. I am extremely pleased that Paul and Larry have agreed to work with us. "Both individuals bring to Cambridge extensive experience in business and the capital markets. With Paul and Larry, we continue to strengthen the team responsible for executing on our plans, and creating shareholder value." About Cambridge Energy Cambridge Energy Corp. is engaged in the acquisition, development and operation of producing oil and natural gas properties with proven reserves. To date, the company has acquired properties in Louisiana and Indonesia with proven oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally of between 14 to 17 million barrels and 70 to 80 billion cubic feet of natural gas reserves. Further information can be found at the company's Web site: http://www.cambridgeenergy.com or http://www.magnumfinancial.com. This news release includes 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 made pursuant to the "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. " provisions of the Private Securities Litigation Reform Acts The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. While these statements are made to convey to the public the company's progress, business opportunities, and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are set forth in the company's periodic filings with the U.S. Securities and Exchange Commission. |
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