VNTN Venturenet Capital Group Inc (CE)

VentureNet Capital Group, Inc. (Pink Sheets:VNTN), has signed a joint venture agreement with Exploitation Engineers, Inc. of Houston, Texas. EEI will provide consulting services to VNTN and its potential clients in the area of Enhanced Oil Recovery (EOR). VNTN has discovered an oil recovery process used by independent companies to recover oil from wells that the major oil and gas companies have abandoned. For every barrel of oil produced in the United States there are two barrels left behind, according to a recent Los Angeles Times article, and with oil at $60.00 per barrel that makes it potentially lucrative for VNTN to enter this field with EEI. EOR is a process whereby the oil and gas industry uses additional technology, other than water flooding, to recover crude oil from formations which have been depleted of hydrocarbons by primary or secondary recovery. There are several of these processes such as polymer technology, steam flooding, and fire flooding that are used for EOR. VNTN has entered this area because there are few consultants with the specialized knowledge to advise independent oil and gas companies on EOR. Exploitation Engineers, Inc. has been advising clients on EOR technology for many years. With 25 years of experience in the petroleum consulting industry, Exploitation Engineers, Inc. can provide planning, evaluation, and implementation of EOR projects for operators or investment groups. About VNTN VentureNet Capital Group, Inc. is a management company that provides marketing and consulting services to public companies. Our clients are offered expertise in areas such as promotional, publicity, sales promotions and management consulting. We specialize in helping with funding public businesses that represent emerging growth opportunities as well as established companies that demonstrate potential for long-term capital growth. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, further events or otherwise.