LAS VEGAS, May, 15 2014
/PRNewswire/ - Bakken Energy Corp formerly Orofino Gold Corp.
(OTC: ORFG) is pleased to announce that its wholly owned
subsidiary has signed a letter Intent with Green River Refinery LLC
to acquire its Green River Oil Refinery in Southern Utah. The company has 30 days from
the signing of this LOI to complete the acquisition of the
Refinery.
Nations Oil and Gas has developed a plan to restart the refinery
and process local crude oils and other available feed stocks. The
refinery was completed to produce a wide range of products
including: Light Naphtha consisting of a mix of butanes, pentanes
and hexanes, a heavy Naphtha, a Diesel product, Vacuum Gas Oil and
Vacuum Resid.
The Green River Oil Refinery was valued at over $16,500,000 in 2006 and the company believes its
true value is closer to $70,000,000
once it is up and running. Once the acquisition is completed
Nations plans on doing a current evaluation of the Refinery and
Revenue projection.
The company is also awaiting approval of the 10% stock dividend
to all its common shareholders as of April
15, 2014 from Finra. Once dividend is approved Island Stock
Transfer Agent will have all of the information necessary from the
DTC to process the dividend to its shareholders. At that time each
shareholder will be able to contact the Transfer Agent to receive
their dividend. The company will advise as soon as they have
further information available from Finra. It expects to have it
completed within the next 30 days. The company is also completing a
few documents necessary for Finra to finish the name and symbol
change of the company and expects it to be completed shortly.
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 Bakken Energy Corp