RENO, Nev., March 3, 2011 /PRNewswire/ -- Eagle Oil
Holding Company, Inc. (Pink Sheets: EGOH) (the "Company")
announced today that as a result of oil prices approaching record
levels, it has been receiving renewed interest from potential
partners interested in operating the Company's East Texas oil field. The Company's oil
assets consist of interests in 173 wells on 927 acres located in
the Historic Woodbine Oil Field, in East
Texas. The Company's goal is to partner with an
existing oil field development company to finance and manage the
restoration of the Company's oil wells.
President Brian Wilmot stated,
"As a result of the steadily rising price of oil over the last few
months to near record levels, we have already received interest
from three potential oil field development partners. We will
continue discussions with potential partners until reach agreement
with a company that has both the financial and technical resources
to re-establish oil operations in our 927 acre East Texas oil field."
About Eagle Oil Holding Company
Eagle Oil (EGOH) (www.eagleoilholdingco.com) is an independent,
growth-oriented energy company engaged in the exploration and
production of oil through the development of a repeatable, low
geological risk, high potential project in the active
East Texas oil and gas region. The
Company owns a 78% working interest in 173 wells on its 927 acres
located in the Historic Woodbine Oil Field. The Company's
goal is to recondition and restore production at all of its wells.
Engineering reports show that Eagle Oil's East Texas field contains over 12,000,000
barrels of recoverable oil.
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements involve known and unknown
risks, uncertainties and other unknown factors that could cause the
actual results of the Company to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms "believes," "should,"
"intends," "will," or "plans" to be uncertain and forward-looking.
The forward-looking statements contained herein are also subject
generally to other risks and uncertainties that are described from
time to time in the Company's reports and registration statements
filed with the Securities and Exchange Commission.
Contact:
|
|
|
|
Eagle Oil Holding Company, Inc.
(209) 736-4530
|
|
|
SOURCE Eagle Oil Holding Company, Inc.