DEBARY, Fla., Sept. 3, 2014 /PRNewswire/ -- Cyber Kiosk
Solutions, Inc. (OTC PINK: CYBK) is pleased to announce the Company
has acquired EPA Petroleum, Inc.(EPA) as a wholly owned subsidiary
for 300 million shares of Restricted Common stock and Nathan Hall has been appointed the sole officer
and director of CYBK.
EPA Petroleum, Inc. will be the new operating company within
CYBK. The former officers and directors have resigned and
Christopher J Clarke is returning 65 million shares of Common stock
back to the Company.
EPA Petroleum, Inc. (EPA) is an oil drilling company with
operations in Pennsylvania. EPA
currently has 4 groups of 10 Oil Well blocks to be able to drill on
over 250 acres of land and has oil drilling underway on the same
drilling lease. EPA focuses in on a niche area of drilling
that is very conservative focusing in on benefits from the tax
deductions available for an oil and gas drilling investment
including intangible drilling costs, depreciation, operating costs,
and percentage depletion. Structured properly, partners may offset
their taxable income gained from other sources with the substantial
deductions available from investing in oil and gas wells.
EPA currently targets oil drilling opportunities between 1 to
3000 feet in depth with most oil wells being between 1000 to 1300ft
feet. This limits the risk of drilling a dry hole along with many
other mitigating factors. EPA chooses its locations based on proven
reserves and geology/nuclear well reports in the region. The
company does NOT do any "Wild Cat Drilling" and EPA's areas of
drilling are in the vicinity of where Quaker State Oil, Pennzoil,
and the Rockefeller families all
began in the oil business.
After reviewing geology reports EPA's oil drilling program
expects between 850 to 1500 barrels of oil per well, in year one.
Some wells in the area have produced higher yields in year one and
oil yields may fluctuate. The company's current operations are in
the Oil City, Pennsylvania and
Venango County, Pennsylvania areas
that have historical proven reserves and are located within miles
of the birth of the Oil Industry (Titusville, Pennsylvania). Due to
hydraulic fracking, these areas have come back alive and are
producing oil again.
At the end of June EPA had $300,000 in cash in the bank and has its own
investment source, which has committed funds for future land leases
and drilling operations. This gives the Company an advantage of not
having to sell shares in the market to raise capital for future
operations. The Company headed by Nathan Hall has agreed not to do a reverse split
for a minimum of one year, allowing it time to evaluate market
conditions.
The Company, simultaneously with the Closing of the EPA
transaction, moved all of its contracts, agreements, LOI's and any
other agreement whether written or oral into Cyber-Thingy, Inc., of
which Oren Manelis has been
appointed as the Sole officer and director of the
company.
The Company will file with FINRA to change the name, the symbol
and effect a spin off of Cyber-Thingy, Inc., to its shareholders no
later then October 10, 2014.
Next week CYBK will announce an official record date and details
for the Spin Off of Cyber-Thingy.
The foregoing press announcement contains forward-looking
statements that can be identified by such terminology such as
"believes," "expects," "potential," "plans," "suggests," "may,"
"should," "could," "intends," or similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results
to be materially different from any future results, performance or
achievements expressed or implied by such statements. In
particular, management's expectations could be affected by, among
other things, uncertainties relating to our success in completing
acquisitions, financing our operations, entering into strategic
partnerships, engaging management and other matters disclosed by us
in our public filings from time to time. Forward-looking statements
speak only as to the date they are made. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
For more information contact:
CONTACT:
Nathan Hall
954-509-3748
SOURCE Cyber Kiosk Solutions, Inc.