Savoy Energy Corp. Receives $10 Million in Funding
09 September 2009 - 1:51PM
PR Newswire (US)
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: http://www.savoyenergycorp.com/ About Savoy
Energy Corporation Savoy Energy Corporation (OTC:SNVPOTC:-OTC:News)
(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.
(http://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.
DATASOURCE: Savoy Energy Corporation CONTACT: Savoy Energy
Corporation Investor Relations e-media Direct, Inc., 1-866-284-2835
Web Site: http://www.savoyenergycorp.com/
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