Bakken Energy Corp Begins Negotiation to Buy Oil Refinery in Southern Utah Uinta Basin
April 24 2014 - 08:00AM
PR Newswire (US)
LAS VEGAS, April 24, 2014 /PRNewswire/ - Bakken Energy
Corp formerly Orofino Gold Corp. (OTC: ORFG) is pleased to announce
that the company has reached a memorandum of understanding between
its board of directors to acquire an Oil Refinery in Southern Utah. The company expects to give
details of the acquisition agreement by middle of next week. The
company also expects to have the name change and symbol change
completed by the end of next week.
The company is currently completing its evaluation of the
refinery and is in the process of getting an updated appraisal of
the property. The Oil Refinery was valued at over $16,500,000 in 2006 and the company believes it
is worth much more as the value of Oil has increased dramatically
from the $60.00 per barrel range in
2006 to around $100.00 per barrel in
2014.
The company's wholly owned subsidiary Nation Oil and Gas is
currently working on acquiring several key assets for the company
and is in final negotiations for several joint venture agreements.
The company will acquire key Oil and Gas leases and valuable land
assets with Oil and Gas deposits. .
Forward-Looking Statements: These statements are not
guarantees of future performance and involve certain risks and
uncertainties that are difficult to predict. Actual results could
vary materially from the description contained herein due to many
risk factors that affect the industry the Company operates in and
other risk factors listed from time to time in the Company's
Securities and Exchange Commission (SEC) filings under "risk
factors" and elsewhere. The forward-looking statements contained in
this press release speak only as of the date on which they are
made, and the Company does not undertake any obligation to update
any forward-looking statement to reflect events or circumstances
after the date of this press release.
SOURCE Orofino Gold Corp.
Copyright 2014 PR Newswire
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