Alamo Enters Into New Financing Facility for Drilling Programs
April 15 2011 - 9:00AM
Alamo Energy Corp. (OTCBB:ALME) is pleased to announce that it has
signed a new financing agreement to fund the development of Alamo's
Appalachian assets.
Following the recent acquisition of 71 wells on approximately
4,040 acres, we believe the new $2.4 million financing facility
will effectively enable Alamo to continue its aggressive drilling
& expansion program in the Appalachian basin.
Philip Mann, Chief Financial Officer, commented: "We are pleased
with the structure in which we have raised the funding. This method
of financing will enable us to strengthen the company through the
drilling of new wells and subsequently increase revenue."
About KYTX Group of Companies.
The KYTX group of companies are wholly owned subsidiaries of
Alamo Energy Corp and are located in Knox County, Kentucky in the
Appalachian basin. The companies are KYTX Oil & Gas, KYTX
Pipeline, and KYTX Drilling Company. Together, they contain 71
wells located on 4,040 acres, a 23-mile strategic pipeline network
capable of handling up to 9,000,000 mcf connected into the Delta
system and one drilling rig, one service rig and associated
well-servicing equipment.
About Alamo Energy Corp.
Headquartered in London, England and with operational offices in
Houston, Texas, Alamo Energy Corp. (OTCBB:ALME) is an independent
company focused on the exploration, development and production of
onshore oil and gas reserves in the United Kingdom and United
States. The company's UK exploration program is focused on four
blocks spread over 400 square kilometers in an onshore oil and gas
province in South East England. Alamo's U.S. operations are focused
on the development of assets in Texas, Kentucky, Tennessee and West
Virginia. For more information visit www.alamoenergycorp.com
The Alamo Energy Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7619
Forward-looking Statements:
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that
could cause actual results to differ materially include, but are
not limited to, changes in the Company's business; competitive
factors in the market(s) in which the Company operates; risks
associated with operations outside the United States; and other
factors listed from time to time in the Company's filings with the
Securities and Exchange Commission. The Company expressly disclaims
any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in the Company's expectations with respect
thereto or any change in events, conditions or circumstances on
which any statement is based.
Cautionary Note to U.S. Investors - The United
States Securities and Exchange Commission permits oil and gas
companies, in their filings with the SEC, to disclose only reserves
that comply with the definitions presented at Rule 4-10(a) of
Regulation S-X. We use certain terms in this press release that the
SEC's guidelines strictly prohibit us from including in filings
with the SEC. Examples of such disclosures would be statements
regarding "probable," "possible," or "recoverable" reserves among
others. U.S. Investors are urged to consider closely the disclosure
in our Form S-1, File No. 333-169609, available from us at 10497
Town & Country Way, Suite 820, Houston, Texas, 77024, United
States of America.
CONTACT: Alamo Energy Corp.
Investor Relations
Adam Holdsworth
+1 212-825-3210
ir@alamoenergycorp.com
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