HUNTSVILLE, Tenn., July 31 /PRNewswire-FirstCall/ -- Miller Petroleum, Inc., dba Miller Energy Resources, (BULLETIN BOARD: MILL) announced today that it has filed an extension of its most recent 10-K due July 29, 2009. The extension was required as a result of the recent acquisition of East Tennessee Consultants, Inc. (ETC) and Ky-Tenn Oil, Inc., (KTO) that has made Miller Energy Resources the largest operator of natural gas and oil wells in Tennessee.
Miller CEO Scott M. Boruff commented that, "The majority of the processes necessary to assure the integration of KTO and ETC into Miller have been completed successfully. The ongoing upgrade of our IT systems, which is being optimized to quickly analyze and integrate our present and upcoming acquisitions, coupled with the integration of two major acquisitions, caused a delay in our filing. We anticipate filing the 10K well in advance of the fifteen days afforded to us and expect completion of our technology upgrades by fall. Our new systems will assure timely filings in the future and are another example of the successful execution of our ambitious business plan going forward."
Boruff added, "The new IT systems at Miller are being developed at our expense to assure complete transparency to our investors of all financial aspects of our $20,000,000 income and $25,500,00 drilling offerings. Our "Investor Portal" will allow for complete and secure comprehensive communication with our investors over the net. Beta testing will be completed in the next week and we go live via Webinar demonstration on August 7, 2009. Our rock solid IT foundation that is close to completion will allow our organization to expand at the rate necessary to become a major player on the energy stage in the upcoming years."
About Miller Energy Resources
Miller Energy Resources is an oil and natural gas exploration, production and drilling company operating primarily in the heart of Tennessee's prolific and hydrocarbon-rich Appalachian Basin. Company chairman Deloy Miller has a successful track record spanning more than forty years in this Basin's oil and gas industry. Since 1967, Miller has drilled or serviced over 5200 wells. Miller is currently the largest operator of natural gas and oil wells in Tennessee.
Forward Looking Statements
Certain matters discussed within this press release are forward-looking statements. Although Miller Energy Resources believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include, but are not limited to, the availability of sufficient capital to fund its anticipated growth, fluctuations in the prices of oil and gas, the competitive nature of its business environment, its dependence on a limited number of customers, its ability to comply with environmental regulations, changes in government regulations which could adversely impact its business and other factors. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Miller Energy Resources' actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in its periodic reports that are filed with the Securities and Exchange Commission and available on its Web site (http://www.sec.gov/). All forward-looking statements attributable to Miller Energy Resources or to persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Miller Energy Resources does not assume a duty to update these forward-looking statements.
Web Site: http://www.millerenergyresources.com/
Miller Petroleum, Inc.
CONTACT: Scott M. Boruff, Chief Executive Officer of Miller Energy
Resources, +1-423-663-9457, Fax: +1-423-663-9461
Web Site: http://www.millerenergyresources.com/
