Vancouver, BC (GLOBE NEWSWIRE) - Stamper Oil & Gas Corp. (TSX-V:STMP) (FSE:TMP2) (OTCQB:STMGF) (“Stamper” or “the Company”), is pleased to announce that it has entered into a Memorandum of Understanding (the “MOU”) with State Oil Corporation ("State"), a private independent oil and gas exploration and production ("E&P") company on co-operation on exploration and production of oil and gas in Africa and South America.
The Management Team of State has vast international experience in the hydrocarbon sector and a proven track record in negotiations, acquisitions and development of projects in the oil & gas sector. The Management Team has been involved in the development of a world-class petroleum project in Sudan. Projects of note have comprised of a 12.2 million acre oil concession and the construction of a 1,500 km. long export pipeline to Port Sudan. This project was successfully brought to production. A consortium of international companies was formed with efforts of the management team to further develop it. State’s team has experience in working in Africa, South America and South/Central Asia on various projects.
David Greenway, President & CEO commented, “We are looking forward to working with State with its diverse experience as a leading operator and past producer in Sudan. As we pursue acquisitions in the oil sector, this partnership represents a compelling opportunity to gain exposure in Africa.”
About Stamper Oil & Gas
Stamper Oil & Gas Corp. is a publicly traded junior development stage international oil and gas company. The Company is engaged in the acquisition, exploration and evaluation of conventional and unconventional oil and natural gas properties with the current focus on Latin America. The Company’s strategy is centred on generating sustainable long term shareholder value by exploring and developing cost effective growth of light oil reserves.
For further information on Stamper Oil & Gas please visit www.stamperoilandgas.com
ON BEHALF OF THE BOARD OF DIRECTORS
“David C. Greenway”
President & Director
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This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Stamper Oil & Gas Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Stamper Oil & Gas Corp. management on the date the statements are made. Except as required by law, Stamper Oil & Gas Corp undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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SOURCE: Stamper Oil & Gas Corp.