Lions Petroleum Inc. - Letter of Intent Extended for 60 Days.DENVER -- Lions Petroleum Inc. (The Company), (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :LPET LPET Logarithmic Poisson Execution Time ). On September 14, 2006, the Company announced that an LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items had been signed for the acquisition of 26,635 acres of oil & gas leases located in SE Kansas. The leases included the rights to all depths and included also 26 coal bed methane wells in various stages of production and completion. It also included approximately 20 miles of 6-inch pipeline with compression and a tap into a main transport pipeline in SE Kansas. The Company announces today that the above LOI has been extended for an additional 60 days. ABOUT LIONS The Company is a Delaware corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. that has oil and gas leases in Northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. and the Williston Basin in South Saskatchewan. The Company has an interest in two producing wells in Lavaca County Texas with an option to participate in two additional undrilled wells. The Company has signed Letters of Intent to acquire 11,642 acres of petroleum leases, located in Bourbon, Crawford & Neosho counties in South East Kansas, located in the Cherokee Basin. The Company has signed a Letter of Intent to acquire 14,184 acres of petroleum leases in Harrison and Daviess Counties, N.E. Missouri, which are located in the Forest City Basin. The Company is currently seeking additional projects throughout North America. 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. The information provided in this Press Release does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares or other securities of Lions Petroleum Inc. There are substantial risks associated with investing in development stage energy exploration companies. No Securities Commission or similar authority has in any way approved any of the information contained in this press release. |
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