Frontier Energy Corp. Signs Letter of Intent for Purchase of Assets of Cancen Oil Processors
June 27 2008 - 5:09PM
Marketwired
NORTH LAS VEGAS, NV (PINKSHEETS: FRGY) is pleased to announce it
has signed a letter of intent for the purchase of all assets and
on-going business of Cancen Oil Processors, Inc. ("Cancen")
(www.cancenoil.com), a private company. Cancen's assets include a
refinery, multiple disposal wells and an existing operating
business with experienced staff.
Frontier CEO Bob Genesi comments, "All parties are very excited
about what this potential purchase could mean for Frontier and for
Cancen. Discussions have been swift and only minor details remain.
We hope to announce a completion of this purchase in the near
term."
The Letter of Intent includes provisions whereby the two parties
will use their best efforts to move forward to execute and deliver
a definitive purchase and sale agreement within a short period of
time. Additional information will be forthcoming as it becomes
available.
About Frontier Energy Corp.
Frontier is an exploratory oil and gas business headquartered in
Las Vegas, Nevada. Our goal is to build a solid portfolio of assets
through the acquisition of leases and explore and develop the
opportunities on our leases.
Except for the historical information presented, the above
statements are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 or regulations
thereunder. These forward-looking statements are subject to risks
and uncertainties, and actual results may differ materially. These
risks include the economic health of the oil and gas industry,
competitive pricing pressures, completion of possible acquisitions,
success at integrating and operating any acquired operations and
the availability of necessary financing. These statements speak
only as of above date, and Frontier disclaims any intent or
obligation to update them.
Contact: Frontier Energy Corporation, Las Vegas Robert Genesi
702-648-5849
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