ST. PETERSBURG, Fla., April 7 /PRNewswire-FirstCall/ -- US Natural Gas Corp (BULLETIN BOARD: ADVE) , an energy exploration company with operations in the Appalachian Basin, announced today that the Company has acquired additional leases and mineral rights in Wayne County, West Virginia..
The Company acquired two leases totaling 100 acres adjacent to the Company's current proven and producing leaseholds. The Company will maintain an 87.5% net revenue interest in each of the leases. In addition, the Company purchased approximately 175 acres of mineral rights divided amongst three tracts in Wayne County, West Virginia.
"The acquisition of the leases and mineral rights adds to the Company's portfolio of proven and producing properties," said Wayne Anderson, President of US Natural Gas Corp. "As we fully integrate the Wilon Resources, Inc. acquisition, we will continue forward with our expansion plan in and around our operational areas."
Management is pleased to announce that all three proposals brought before shareholders at the March 19, 2010 special meeting were approved unanimously. The Company has submitted all documents to FINRA and is awaiting the new trading symbol and effective date. As soon as this information is made available, the Company will update shareholders.
About US Natural Gas Corp (formerly Adventure Energy, Inc.)
US Natural Gas Corp is an independent energy company principally engaged in the acquisition, exploration and development of mature long-lived oil and natural gas properties. The company's current operations are concentrated in the Appalachian Basin within the states of Kentucky and West Virginia.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2008.
US Natural Gas Corp
CONTACT: Shannon Bell, Executive Assistant, US Natural Gas Corp,
+1-727-824-2800, info@usnatgascorp.com
