Radiant Oil and Gas Meets with its Funding Sources While Attending IPAA OGIS Conference and MicroCap Conference in New York; Continues to Finalize SEC Reporting
HOUSTON, TX / ACCESSWIRE / April 26, 2018 / Radiant Oil and Gas Inc. (OTC PINK: ROGI) attended the Independent Petroleum Association of America's (IPAA) Oil and Gas Investment Conference as well as the MicroCap Conference in New York City this month. While in New York, meetings continued with several funding sources with a goal of finalizing financing for the purchase of 7 fields in Southeast Texas. Principles from Radiant will also be attending Thompson & Knight Second Annual Private Equity Institute in Houston this week.
As oil prices continue to rise and stay stable, we have seen oil prices hit their highest level since 2014. With a lack of investment in conventional drilling the last several years, there have not been many new conventional discoveries as drilling has been extremely curtailed. Production from conventional wells has been declining while demand has been rising creating a scenario where profitability will skyrocket and attract investment dollars towards drilling and development in this sector. CEO of Radiant, John Jurasin says, "As a 37-year member I am honored to be a representative on the IPAA Supply & Demand Committee this year which I believe will mark the comeback of oil. With predicted draws on storage the rest of 2018 and even into 2019, increasing oil price predictions keep rising. Commodity strategists at Goldman Sachs laid out the case for Brent crude oil hitting $80 a barrel by the end of this year. This is a great time to invest in undervalued conventional oil stocks or buy into oil plays." On another note, we continue to work on and are close to completing our SEC filings to bring them up to date. The last 4 years of filings are being updated to among other things confirm the elimination of $37 Million of debt as we work through this complicated and difficult reporting period. We will announce when they are complete as we have fielded and are reconciling a draft of the consolidated 10-K. We would like to invite all of our shareholders to send us your current contact information (address, email and phone number) so that we can communicate with you more effectively. Please send your contact information to Shawn Porche at [email protected] or to [email protected]. Interested accredited qualified investors who are interested in learning more about opportunities with Radiant should contact Steve Brewer at (713) 443-3662 or [email protected]. Radiant Oil and Gas Inc. is a Publicly Traded Company on the OTC Market specializing in acquiring and redeveloping long-lived conventional onshore fields along the U.S. Gulf Coast. Radiant's conventional program is very profitable at today's oil prices due to lower leasing, service and other costs; and low cost and easy to drill-low risk wells. This strategy is in contrast to those oil and gas companies that are working in tight oil plays, which have associated with them high finding and producing costs due to high priced leases and the risks and costs of fracking For more information or updates on Radiant, please go to our website at www.RadiantOilandGas.com or follow us on Linked In, Twitter, Facebook, or Google+. Company Contact: Radiant Oil & Gas, Inc. Forward-Looking Statements This press release includes certain estimates and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including statements regarding timing of drilling operations, reserves associated with prospects, oil content of prospects, future production rates and drilling results, ultimate recoveries from wells, ability to fund drilling operations, and the ultimate outcome of such efforts. Words such as "expects", "anticipates", "intends", "plans", "believes", "assumes", "seeks", "estimates", "should", and variations of these words and similar expressions, are intended to identify these forward-looking statements. While we believe these statements are accurate, forward-looking statements are inherently uncertain and we cannot assure you that these expectations will occur and our actual results may be significantly different. These statements by the Company and its management are based on estimates, projections, beliefs, and assumptions of management and are not guarantees of future performance. Important factors that could cause actual results to differ from those in the forward-looking statements include the factors described in the "Risk Factors" section of the Company's filings with the Securities and Exchange Commission. The Company disclaims any obligation to update or revise any forward-looking statement based on the occurrence of future events, the receipt of new information, or otherwise.
SOURCE: Radiant Oil and Gas Inc.
Shawn M. Porche, Chief Communications Officer
[email protected]
(713) 927-3895