CORRECTION: South Texas Energy Acquisition
Oct 18, 2013
OTC Disclosure News Service
Houston, TX – Nexus Energy Services Inc. (PHARD: OTC Pink)is excited to announce an acquisition in South Texas from a private Texas basedoil and gas company for $1.5 million in a combination of cash, stock and notes,effective August 1, 2013. Thisacquisition consists of a 100 percent of the Working Interest in a 250 acrelease in the upper and lower Frio Basin. Chief Financial Officer and Director Loretta Higgins said, “Based on thegeological and reserve reports, this acquisition will lead Nexus entry intothe energy production sector with proven profitability and potential for futuredevelopment.”
Ms. Higgins stated, “This acquisition incorporates anexisting cash flow from one producing well and two proven undeveloped locationscontaining upwards of 300,000 barrels of oil. This information will be reflected in the 2013 annual report.” The September 2013 annual report will be madeavailable on or around October 25, 2013. Ms. Higgins noted, “The early release of this annual report signals our newcommitment to supply timely and accurate information to shareholders. This annual report will include restated financialstatements as result of thorough and ongoing examinations of the books and recordsof Pharmstar Pharmaceuticals. This examinationis essential due to an inability to validate previously released financialstatements.”
Investors should be advised that as part of this internalreview, past quarterly and yearly financial statements can no longer be reliedupon and a restatement will be published on or about November 8, 2013.
The information in this news release includes certainforward-looking statements that are based upon assumptions that in the futuremay prove not to have been accurate and are subject to significant risks anduncertainties, including statements related to the future financial performanceof the Company. Although the Companybelieves that the expectations reflected in the forward-looking statements arereasonable, it can give no assurance that such expectations or any of itsforward-looking statements will prove to be correct. Factors that could cause results to differinclude, but are not limited to, successful execution of growth strategies,product development and acceptance, the impact of competitive services andpricing, general economic conditions, and other risks and uncertaintiesdescribed in the Company’s periodic filings with the OTC Markets.
This release includes additional documents. Select the link(s) below to view.
2013-10-18 South Texas Energy Acquisition Press Release.pdf
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