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MSEV is Considering a Forward Split >VANCOUVER, British Columbia, March 10, 2006 (PRIMEZONE) -- Micron Enviro Systems, Inc. (OTCBB:MSEV) wishes to announce that management is now looking into forward splitting its common shares as well as conducting a name change to better reflect its oil and gas business. Management believes these changes would benefit current shareholders and limit possible naked shorting that may have been occurring on the stock in the recent weeks.
Bernie McDougall, President of MSEV stated, "The company is progressing in terms of achieving our goal of becoming a mid-range oil and gas producer and we feel that a forward split of up to ten shares for each one share would be a tremendous benefit to the company while simultaneously rewarding our loyal shareholders. We feel that there may be some naked shorting occurring over the past few weeks and a split of the shares could limit this possible action. Considering we have just entered in the world's largest oil sands region, we want to maximize our share value going forward. We would also like to change the company's name to accurately reflect the Oil Sands business that we are now in. As it stands, MSEV is one of if not the smallest market capitalized companies with exposure to the Athabasca Oil Sands of Alberta. These are tremendously exciting times for MSEV and MSEV's shareholders, and we plan to build the company to benefit our shareholders."
MSEV has also initiated the process of listing its shares on the Frankfurt Stock Exchange. The process is expected to be completed within 2-6 six weeks. There are a large amount of junior resources companies that have listed on the Frankfurt Exchange which have received positive substantial exposure from the listing. The monies needed for the listing have been forwarded and accepted for this application
MSEV has recently announced its entry in the Athabasca region of Alberta, Canada, which is the world's largest Oil Sands region. This new Oil Sands project is located just south of Fort McMurray, Alberta and is in close proximity to major Oil Sands projects by Devon, Encana, and Conoco Philips. At a recent presentation, Encana's COO stated that Encana's Christina Lake Prospect, which is within 15 miles of MSEV's new prospect, could grow to produce 250,000 barrels per day. The closest Oil Sands project adjacent to MSEV's new project is the Whitesands Project that has stated reserves of 1.3 billion barrels of oil in place and has just initiated the start-up of a test plant.
MSEV is an emerging oil and gas company that has exposure to the Athabasca Oil Sands of Alberta, Canada, which is the largest Oil Sands region in the world and has production from conventional multiple oil and gas wells. MSEV is one of if not the smallest market capitalized companies with exposure to the Alberta Oil Sands. MSEV's goal is to become a junior oil and gas producer that focuses on the exploration, discovery and delivery of gas and oil to the North American marketplace. MSEV currently has multiple independent sources of oil and/or gas revenue from production in Canada and Texas. MSEV is presently involved in multiple oil and gas prospects, and continues to look for additional projects that would contribute to building MSEV's market capitalization including additional Oil Sands projects.
If you have any questions, please call MSEV at (604) 646-6903. If you would like to be added to MSEV's update email list, please send an email to info*micronenviro.com requesting to be added.
This news release contains forward-looking statements. Forward-looking statements are statements which relate to future events. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are referred to the sections entitled "Risk Factors" in the Company's periodic filings with the United States Securities and Exchange Commission, which can be viewed at http://www.SEC.gov. For all details regarding working interests in all of MSEV's oil and gas prospects or any previous news releases go to the SEC website. You should independently investigate and fully understand all risks before making investment decisions.
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