Archive for February 28th, 2011
PGI Energy Announces Closing of Oil and Gas Asset Acquisition in New JV Partnership and New $100 Million Equity Commitment
PGI Energy Announces Closing of Oil and Gas Asset Acquisition in New JV Partnership and New $100 Million Equity Commitment
Houston, TX, February 28, 2011 - PGI ENERGY, INC announces new joint venture gas development agreement with Osyka Resources, LLC in acquiring a 50% stake of Mustang Island Block 882. The asset is valued at $15 mil. “We are equally as excited to have executed a new round of financing with AGS Capital Group in New York. The closing of this transaction will allow us to report modest earnings, thus increasing value for our shareholders as we continue our growth plan. The number of institutional investors interested in investing in PGI Energy speaks volume to our business model and vision for growth at a rapid pace,” says Marcellous McZeal the Company CEO.
About Osyka Resources, LLC
Osyka Resources, LLC is a Houston based subsidiary of Osyka Resources Corporation with E & P operations throughout Texas, Louisiana, and Mississippi. Osyka will be the operator in this joint venture project.
About AGS Capital Group
AGS Capital Group provides innovative and flexible debt and equity financing solutions for growth-stage and mature public companies as well as private companies seeking to go public.
With offices in New York, Hong Kong and India, AGS Capital Group has facilitated the growth of companies within the U.S. and those domiciled in foreign markets around the globe.
AGS Capital Group invests in public companies listed on most exchanges. They perform fundamental analysis including credit risk, technical analysis of market trends and industry, evaluation of management team experience and corporate structure evaluation.
About us
PGI Energy, Inc., is an energy holding company, headquartered in Houston, Texas. The company’s purpose is to acquire assets in the proven producing oil and gas assets, refinery and pipeline sectors of the energy industry and other synergistic assets. The company will only acquire proven producing, and income producing assets.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “intends, “plans,” “should,” “seeks,” “pro forma,” “anticipates,” “estimates,” “continues,” or other variations thereof (including their use in the negative), or by discussions of strategies, plans or intentions. A number of factors could cause results to differ materially from those anticipated by such forward-looking statements, including those discussed under “Risk Factors” and “Our Business.” Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons.
For more information visit: www.PGIEnergy.us or Email: info@pgienergy.us
For More Information Contact
Robert Gandy
Media Contact & Investor Relations
PGI Energy, Inc.
713-532-5649
www.PGIEnergy.us
info@pgienergy.us
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