Puma Energy Signs Memorandum of Understanding.Business Editors Puma Energy Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :PUMX) today announced the signing of a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with Indusmin Energy Corporation (TSXVE:IDM (1) See identity management. (2) (Integrated Device Manufacturer) A company that performs every step of the chip-making process, including design, manufacture, test and packaging. Examples of IDMs are Intel, AMD, Motorola, IBM, TI and Lucent. ), a Canadian-based exploration company, to participate in gas and oil field exploration and production in the West Ukraine and in the Republic of Georgia. Under the terms of the Memorandum, Puma and Indusmin will work exclusively together for 60 days toward reaching a Joint Operating Agreement to explore and develop the Malinovetske field in the West Ukraine, in addition to promoting other interests in the Ukraine and Georgia. Financial terms and operational responsibilities will be negotiated during the designated 60-day period. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Edward W. Blessing, president and 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. of Puma, the joint venture with Indusmin will allow Puma to broaden its geographical scope in the Caspian Region. "Historically, Puma has focused its efforts exclusively in Azerbaijan," Blessing said. "But the 'Two Seas' Region -- the Caspian and Black Sea -- offers one of the best opportunities for oil and gas exploration in the world. Joining forces with Indusmin will allow both of our companies to better capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the many opportunities the 'Two Seas' area can offer." About Puma Energy Puma Energy Inc., based in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , is an independent oil and gas exploration and development company targeting Central Asia. Puma is working on projects in the Azerbaijan Republic, a country strategically located adjacent to the Caspian Sea. Historically, development efforts have been concentrated in the onshore Balakhani-Sabunchi-Ramani oil fields. The company believes it is positioned to capitalize on the growing importance of the Caspian region to world energy markets. About Indusmin Energy Indusmin Energy Corporation is a Canadian public company listed on the Toronto Venture Exchange (TSXVE:IDN (Internationalized Domain Name) A .com or .net domain name that is represented in non-English characters and symbols, with .com and .net appended at the end in English letters. ) involved in the acquisition, exploration, development and production of oil and natural gas worldwide. Primarily focused on opportunities in the countries of Ukraine and Georgia, Indusmin has pioneered development in the gas-rich Crimean Peninsula by securing 100 percent of foreign interests in the area's East and West oil and gas fields. Indusmin's management team and contacts in the European mineral and resources industry have helped the company to become a dominant player in the independent sector. For more information, contact Carlos Munoz, president and CEO, 604/913-1971. This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements 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 Act 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. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the company's products and services in the marketplace, competitive factors, changes in regulatory environments, and other risks detailed in the company's periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release. |
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