DALLAS, TX -- (Marketwired) -- 12/03/13 -- Core Resource Management, Inc. (OTCQB: CRMI), (www.coreresource.net), has entered into an agreement to acquire Overriding Royalty Interests ("ORRI") in twenty (20) producing wells from Martineau Petroleum, a Dallas-based oil & gas operating company. The properties are all in Texas and located in three counties; Brazos, Tyler and Madison counties. The Company's CEO commented, "We are excited about this relationship with David Martineau and Martineau Petroleum. We believe Martineau to be one of the premier independents in Texas and we expect this to be the first of many transactions with them and gives Core a very experienced operator with which to team on future acquisitions."
About the Company:
Core Resource Management is a Dallas based oil & gas company engaged in the acquisition of existing oil & gas production in partnership with established oil & gas operators in Texas and the Southwest. The Company does not currently engage in direct exploration but will acquire positions of up to 50% in current oil & gas production from well established operators, seeking from time to time, to sell a percentage of their existing production in order to recycle their capital into new leases and wells. Management believes it can maximize value for its shareholders while also negotiating fair and reasonable valuations for its drilling partners.
Forward Looking Statements:
Statements which are not historical facts contained in this release are forward looking statements, such as "immediately accretive" that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward looking statements.
The information herein is subject to change without notice. Core Resource Management, Inc. shall not be liable for technical or editorial errors or omissions contained herein.
Core Resource Management, Inc.
W. Brown Glenn Jr.
214 365 3099 ext. 1
Source: Core Resource Management, Inc.
Released December 3, 2013