Chinese Media Hubs Commence Coverage on Sentry Petroleum Ltd.
March 15 2011 - 9:15AM
Business Wire
Sentry Petroleum Ltd. (OTCBB:SPLM) announced today that in
cooperation with Invest Hong Kong, (the Government department of
the Hong Kong Special Administrative Region (HKSAR) responsible for
Foreign Direct Investment and foreign businesses expansion in Hong
Kong) the Company and its exploration development is being covered
by over 11 Chinese media hubs including Xinhua News, Ifeng News and
various Chinese governmental websites.
Commenting on the Chinese coverage, CFO Dr. Paul Boldy
commented: "The interest in our company and our leases in
Queensland Australia has grown dramatically, especially in China.
Since establishing a presence in Hong Kong the level of interest
has blossomed. We are grateful for the efforts of Invest Hong Kong
and have certainly received a boost in recognition throughout Asia
and Australia. What we expected to accomplish in a year has taken a
few short months. With the completion of the independent resource
estimate by Resource Investment Strategy Consultants and the
announcement of a potential 2,000 sq. mile coal seam gas deposit in
our northern permits the extensive coverage is certainly warranted
and welcomed."
In other news the company announced it has entered into an
exclusive option agreement with Sino American Oil Company. The
option grants Sino American the right to earn up to 70% interest in
ATP 865 and ATP 866. Sentry will have the right to reduce the
interest to 50% by paying 40% of the expenses for one well.
Commenting on the option, Sentry President and CEO Dr.
Rajeswaran noted: "We are pleased with the terms and it comes at a
time when our efforts are focused exclusively on the potential coal
seam gas deposit in our northern permits. It gives us the
opportunity to have a highly prospective oil well drilled quickly.
Additionally, it combines important seismic work to enhance the
opportunity for other wells to be drilled expeditiously."
About Sentry Petroleum:
Sentry Petroleum Ltd is an American energy company with 10,600
square miles of oil, gas and coal seam gas rights in Queensland,
Australia. The company has identified over 50 separate oil, gas and
coal seam gas targets and leads within its permit area. Sentry
Petroleum's strategy is to drill the prospects and leads and
independently certify the results. The company will continue to
leverage its strengths with a vision of becoming a premier
independent oil and gas company positioned for merger or sale. For
more information, please visit www.sentrypetroleum.com.
Forward-Looking Statements:
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of applicable
legislation. Other than statements of historical fact, all
statements in this release addressing future operations,
undiscovered hydrocarbon resource potential, exploration, potential
reservoirs, prospects, leads and other contingencies are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results may differ materially from
those in the forward-looking statements due to factors such as
market prices, exploration successes, continued availability of
capital and financing, and general economic, market, political or
business conditions. Please see our public filings at
http://www.sec.gov and http://www.sedar.com for further
information.
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