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Take a look Speedteq-Ti Enters the Petroleum Industry
Business Wire via COMTEX
Jun 9, 2006 9:30:01 AM
PHOENIX, Jun 09, 2006 (BUSINESS WIRE) --
Speedteq-Ti, Inc. (Pink Sheets:SDTQ), is very pleased to announce that they have acquired all of the outstanding shares of "Neville Trevor and Associates" in a Share Exchange Agreement. As per the Agreement, the Company has acquired 100% of the outstanding shares of "Neville Trevor and Associates" in exchange for 25 million shares of the Company's restricted common stock.
"Neville Trevor and Associates" has developed a plan to recover oil in the Caspian Sea Region by method of absorption. Over the past five years they have worked within Azerbaijan with both government and oil authorities, testing and optimizing their plan.
In addition to the acquisition, the Board has appointed Neville Trevor as Chairman and CEO, and Terry Yakimovich as President. Both Trevor and Yakimovich researched and developed the oil absorption process. Mr. Trevor is currently setting up operations in Baku, Azerbaijan.
To better reflect the Company's new business model, the Board has agreed to change its name to Cengroup Petroleum Corporation. Earlier this year the Company had ended its agreement with Bradley Miller and Speedteq-Ti of Arizona to seek a more profitable business model for shareholders.
Also, to improve liquidity within the Company's stock, the Board has approved a two-for-one forward stock split. Both the stock split and symbol change are expected to occur within the next two weeks.
For further investment information please call Rick Neild at 1-800-488-4544.
Special Note Regarding Forward-Looking Statements
Forward-looking statements in this news release are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this news release that are not strictly historical statements, including, without limitation, management's plans and objectives for future operations and management's assessment of market factors, and statements regarding the strategy and plans of the company and its strategic partners, constitute forward-looking statements. These forward-looking statements are not guarantees of the company's future performance and are subject to a number of risks and uncertainties, such as their success in acquiring funding for machinery and materials, maintaining needed relationships with governments and customers, and successfully executing their business plan, which could cause the company's actual results in the future materially to differ from the forward-looking statements.
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Possible reverse merger Could it be the next SPEA?
Sports Entertainment Enterprises, Inc. (OTCBB: SPEA) was added to the Profile List on 07/24/2002 at 0.05 x 0.15. On 12/15/04 it traded at 0.10 per share. On 12/16/04 they announced a reverse merger with an entity (Robert F.X. Sillerman, CKX, Inc.) that will acquire a majority interest in the assets comprising the estate of Elvis Presley and closed at $6.41 on volume of 1,339,073, a gain of 6,300% in one day. UPDATE: traded as high as $30.65 on volume of 57,100 on 05/09/05. DETAILED INFO HERE
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From IHUB: Tuesday, June 06, 2006 Azerbaijan oil sales to yield $140bln at $50 per barrel BAKU, June 6 (RIA Novosti) - Azerbaijan will receive $140 billion from oil sales in the next few years if the price of oil averages $50 per barrel, the president of the oil-rich Caucasus republic said Tuesday. "According to international expert estimates, Azerbaijan will receive $140 billion profits in coming years at oil prices of $50 per barrel," Ilham Aliyev told an international oil exhibition in Baku. Aliyev said the financial resources would be used to boost Azerbaijan's development, and that the country's capabilities as a hydrocarbon exporter were rising. "With the commissioning of the Baku-Tbilisi-Ceyhan oil pipeline and the launch of the Baku-Tbilisi-Erzerum gas pipeline, Azerbaijan will turn into a significant oil and gas exporter," Aliyev said.
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