HOUSTON, Sept. 8 /PRNewswire-FirstCall/ -- Savoy Energy Corporation (OTC
Bulletin Board: SNVP) announced today that it has finalized an agreement with
Tangiers Investors, LP for a $10 Million equity line of credit.
"We are pleased to have established this line of credit. This financing will
assist our company as we move forward with our recompletion programs, as well
as our plans for future growth and expansion," stated Art Bertagnolli, CEO of
Savoy Energy Corporation.
The financing will commence after the company's audits have been completed and
within 30 days after the definitive financing documents are executed.
For a full report, please visit Savoy Energy's website:
www.savoyenergycorp.com
About Savoy Energy Corporation
Savoy Energy Corporation (OTC Bulletin Board: SNVP - News) is an independent
oil and gas company building a diversified portfolio of valuable oil and gas
assets in the United States. The company is focused on identifying abandoned
oil and gas assets, which are then brought online through recompletion and
work-over activities, a meticulous process of evaluation, application of
modern well technology, and stringent management controls. This process allows
the company to increase its asset base and cash flow, while significantly
reducing the cost of initial drilling, and takes away the risk of traditional
exploration projects. Savoy Energy's financial structure allows it to minimize
the high overhead of traditional E&P companies. (www.savoyenergycorp.com)
Forward-Looking Statement: The statements in the press release that relate to
the Company's expectations with regard to the future impact on the Company's
results from acquisitions or actions in development are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. The statements in this document may also contain "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. When used in this
press release, the words "anticipate," "believe," "estimate," "may," "intend,"
"expect" and similar expressions identify such forward-looking statements.
Forward-looking statements are subject to risks, uncertainties, and other
factors that could cause actual results to differ materially from those
contained in such statements. Such risks, uncertainties, and factors include,
but are not limited to, future capital needs, changes, and delays in product
development plans and schedules, or market acceptance.
SOURCE Savoy Energy Corporation
Savoy Energy Corporation Investor Relations e-media Direct, Inc.,
1-866-284-2835
