World Oil Group Inc. to Reduce Its Outstanding Shares by 31.3 Million
January 28 2015 - 8:30AM
Access Wire
DEBARY, FL / ACCESSWIRE / January 28, 2015 /
World Oil Group, Inc. (OTC PINK: WOGI) effective January 27, 2015
WOGI has executed an agreement for the return of 31.3 million
shares of its Outstanding Common stock.
WOGI mentioned in its last press release, the Company was going
to take steps to get back the shares retained after the merger.
After a few weeks of negotiations an agreement was executed to
return the shares back to the Company. Currently 8 million shares
are held at the transfer agent and 22 million shares are in the
Company’s possession with the paper work to cancel those shares.
The remaining 1.3 million shares will be returned to the
Company.
The Company was able to recover an additional 500,000 shares
that were issued to XSKN, which will be held by the Company until
the proper paperwork has been executed by XSKN to enable the shares
to be returned to treasury.
The Company is also seeking the return of 400,000 that where
issued for a transaction for Cyber-Thingy and should have been
returned prior to the merger that took place on the 28th of
August.
Mr. Hall stated, "I am happy this is behind us; the return of
the shares is a victory for the shareholders who never thought this
would happen. I feel today is the first day the Company is moving
forward and I relish in the opportunity to build a Company all
shareholders can profit from."
About World Oil Group, Inc.
World Oil Group, Inc. (WOGI) is a petroleum company that has
traditionally focused on Oil & Gas Exploration in the
Pennsylvania markets by and through its wholly owned subsidiary EPA
Petroleum, Inc. WOGI will be scaling in the petroleum industry over
the 1st and 2nd quarters of 2015 and will keep its shareholders
updated.
EPA Petroleum, Inc. "EPA" is a wholly owned subsidiary of World
Oil Group, Inc. (WOGI). The Company is an independent producer of
crude oil and natural gas. EPA Petroleum is actively involved in
drilling activities within the Commonwealth of Pennsylvania using
Xite Energy, Inc. as its subcontractor drilling partner.
EPA Petroleum is always seeking new opportunities in the
petroleum industry. EPA Petroleum looks to work with the local
communities to help bring jobs within each drilling and fuel
trading region.
EPA Petroleum's vision is to grown exponentially with the
petroleum industry via O&G drilling and energy trading in the
USA and around the world.
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:
World Oil Group, Inc.
Nathan Hall, President & CEO
407-777-9228
info@epapetroleum.com
www.epapetroleum.com
Like us on Facebook
Follow us on Twitter @epapetroleum
SOURCE: World Oil Group, Inc.