JayHawk Energy Inc. – Recent Share Activity and Upcoming Drilling Program
26 January 2010 - 10:00PM
Business Wire
JayHawk Energy, Inc. (OTCBB: JYHW) (Frankfurt: 35J)
(“JayHawk” or the “Company”)) President Marshall Diamond-Goldberg
would like to inform investors that the Company believes the
December 2009 run-up in its share price was, in part, a function of
information disseminated into the market independent of the Company
and without its knowledge and that the subsequent decline has been
a result of profit taking resulting in downward pressure.
The Company continues to prepare for its upcoming drilling
program on its Crosby North Dakota oil project, which should be
ready for drilling to commence in the latter part of February.
Regulatory submissions and drilling contracts are in the works with
a two well program initially being prepared. The results of these
two wells will have an impact on the potential growth of the
company, as the Company believes that each successful well may have
the potential to increase Company net production by 50-100%.
JayHawk also continues to explore acquisition opportunities in
order to expand the Company’s asset base and to diversify its
portfolio. While the Company has no immediate acquisition plans any
such acquisitions would likely be targeted toward oil production
and development projects and may include both conventional assets
as well as unconventional targets such as the Bakken shale. The
Company is being very selective with respect to any acquisition
targets in order to reduce risk and maximize the potential
associated with activity on the assets.
Mr. Diamond-Goldberg expressed his belief that while it is
unfortunate that the Company’s stock price has demonstrated
volatility in the market over the past six weeks, that such
fluctuations are not reflective of the Company’s ongoing commitment
to building shareholder value through increasing production among
its current holdings and identifying future potential acquisition
targets that complement the Company’s current business
operations.
About JayHawk Energy, Inc.
JayHawk Energy, Inc. is a managed risk, oil and gas
exploration/exploitation, development and production company with
activities focused on two major projects in the Cherokee Basin,
Kansas and the Williston Basin, North Dakota. For more information
please visit www.jayhawkenergy.com.
Cautionary Note to U.S. Investors -- The United States
Securities and Exchange Commission permits oil and gas companies,
in their filings with the SEC, to disclose only proved reserves
that a company has demonstrated by actual production or conclusive
formation tests to be economically and legally producible under
existing economic and operating conditions. We use certain terms in
this press release, such as probable, possible and potential, that
the SEC’s guidelines strictly prohibit us from including in filings
with the SEC. U.S. Examples of such disclosures would be statements
regarding “probable,” “possible,” or “recoverable” reserves among
others.
Management hopes these transactions will bring additional value
to the shareholders of JayHawk Energy. There is no guarantee that
the projects that JayHawk has recently acquired will increase the
value of its shares of common stock, or that JayHawk will acquire
rights to explore and operate any other such projects, or that in
the event that it acquires rights to explore and operate other such
projects, that these actions will be successful or increase the
value of JayHawk’s common stock.
This press release may contain forward-looking information
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and is subject
to the safe harbor created by those sections. There are many
factors that could cause our expectations and beliefs about our
plans to acquire additional exploration or production properties,
our plans to drill or our drilling results to fail to materialize:
competition for new acquisitions, availability of capital,
unfavorable geologic conditions, the complexity of coal bed methane
exploration and production, and prevailing prices for natural gas
and general regional economic conditions. JayHawk assumes no
obligation to update the information contained in this press
release.
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