Fortune Oil and Gas to Acquire Cressent Energy from King Resources

- May 6th, 2011

Fortune Oil & Gas, Inc. (PINK:FOGC) is planning to close acquire Cressent Energy from King Resources, Inc. (PINK:KING).

Fortune Oil & Gas, Inc. (PINK:FOGC) is planning to close acquire Cressent Energy from King Resources, Inc. (PINK:KING).

The press release is quoted as saying:

Cressent anticipates producing up to 200 barrels of oil a day by the end of the year after reopening almost three dozen Texas oil wells. With oil prices hovering around $100 per barrel, it’s looking at pumping approximately $20,000 worth of oil to the surface each day.

Click here to access the entire press release

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