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 based
oil and gas company for $1.5 million in a combination of cash, stock and notes,
effective August 1, 2013. This
acquisition consists of a 100 percent of the Working Interest in a 250 acre
lease in the upper and lower Frio Basin.
Chief Financial Officer and Director Loretta Higgins said, ?Based on the
geological and reserve reports, this acquisition will lead Nexus? entry into
the energy production sector with proven profitability and potential for future
Ms. Higgins stated, ?This acquisition incorporates an
existing cash flow from one producing well and two proven undeveloped locations
containing upwards of 300,000 barrels of oil.
This information will be reflected in the 2013 annual report.? The September 2013 annual report will be made
available on or around October 25, 2013. Ms. Higgins noted, ?The early release of this annual report signals our new
commitment to supply timely and accurate information to shareholders. This annual report will include restated financial
statements as result of thorough and ongoing examinations of the books and records
of Pharmstar Pharmaceuticals. This examination
is essential due to an inability to validate previously released financial
Investors should be advised that as part of this internal
review, past quarterly and yearly financial statements can no longer be relied
upon and a restatement will be published on or about November 8, 2013.
The information in this news release includes certain
forward-looking statements that are based upon assumptions that in the future
may prove not to have been accurate and are subject to significant risks and
uncertainties, including statements related to the future financial performance
of the Company. Although the Company
believes that the expectations reflected in the forward-looking statements are
reasonable, it can give no assurance that such expectations or any of its
forward-looking statements will prove to be correct. Factors that could cause results to differ
include, but are not limited to, successful execution of growth strategies,
product development and acceptance, the impact of competitive services and
pricing, general economic conditions, and other risks and uncertainties
described 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
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.