MAXWELL RESOURCES ANNOUNCES ENGAGEMENT OF INDEPENDENT AUDITING FIRM
December 09 2015 - 9:00AM
InvestorsHub NewsWire
MAXWELL RESOURCES ANNOUNCES
ENGAGEMENT OF INDEPENDENT AUDITING FIRM
Company Goal to Regain Compliance with its SEC Reporting
Obligations
DALLAS, TX -- December 9, 2015 -- InvestorsHub NewsWire --
Maxwell Resources, Inc. (MAXE -- OTC Pink), an Oil and Gas company
located in Dallas, Texas, announced today that it
has engaged the auditing firm of Montgomery, Coscia,
Greilich, LLP of Dallas TX, as its independent registering
accounting firm to audit the Companys financial
statements. The Company is working diligently to regain
compliance with its SEC reporting obligations.
The Company also announced that the "SGG" well that was
brought online in October has performed according to managements
expectations. "As part of the staged rework we have
installed a compressor to improve and stabilize the flow rate.
That installation was successfully completed this week and we look
forward to realizing the improved results in the near
term." Mike Edwards, Chief Executive Officer
The "Temple" gas well rework commenced in early
November as was reported in October. Unfortunately
due to rain and subsequent wet conditions restricting
access to the well site via incoming unpaved roads, installation of
some of the needed equipment was delayed from the originally
planned schedule. However, the field team has now successfully
installed the needed dehydration vertical tower, relocated the
separator, and installed a needed additional water collection
tank at the sale point of the transmission pipeline. Final
adjustments and verification that all lines, and equipment are
operating properly is underway now, and it is anticipated that the
well will flow gas within the next few days.
Furthermore the "Henchin" gas well rework will begin immediately
following completion of the Temple well. "Pending cooperation
of the weather, we anticipate all three wells will
be online by the end of December." stated Mr.
Edwards.
Mr. Edwards continued, "As previously announced, management
continues to review and analyze multiple prospective oil and gas
projects ranging from medium size to large acreage. We anticipate
announcing additional acquisitions of producing properties that
present value to the Company in the near future. As always our goal
is to build a solid business and increase shareholder value."
Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of our
control. Our actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements. Any forward-looking statement
made by us in this press release is based only on information
currently available to us and speaks only as of the date on which
it is made. We undertake no obligation to publicly update any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future developments or otherwise.
For Media and Investor Relations Contact:
Mike Edwards
Info@Maxwellre.com