PHOENIX AZ -- (Marketwired) -- 05/30/14 -- Core Resource Management, Inc. (OTCQB: CRMI), (www.coreresource.net), has acquired a working interest in producing oil and gas wells and leases from Nitro Petroleum. The assets are located in Pottawatomie County, Oklahoma. "We are very pleased to announce the continued expansion of our asset base in producing oil and gas assets", said James Clark, Interim CEO; "We believe our developing relationship with Nitro may prove synergistic for both companies."
About the Company: Core Resource Management is a Phoenix-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.
Dennis W. Miller
Interim Chief Executive Officer, Director
3131 E. Camelback Rd. Suite 215
Phoenix, AZ 85016
Source: Core Resource Management, Inc.
Released May 30, 2014