OilVoice - Warrior Girl Corp Signs Acquisition Agreement With AREC

Warrior Girl Corp Signs Acquisition Agreement With AREC

Sunday, April 05, 2009

Warrior Girl Corp announces that an acquisition agreement has been signed with American Resources Energy ("AREC") to acquire two separate licenses for their oil sand and oil shale extraction process. Additionally, a contract to recover oil on property controlled by AREC in Utah with proven recoverable oil reserves in excess of 60 million barrels has also been signed. These deposits and the surrounding lands in Utah are the most accessible and highest grade oil sands deposits in the world. The Company's extraction process is one of the world's most advanced and economical recovery system for oil sand and oil shale extraction and Its cutting edge technologies, combined with dwindling worldwide oil supplies, provide a great opportunity for profitable production and successful development of oil sands and oil shale deposits.

The Company's extraction technology will recover more than 99% of the available oil present in the tar sands in a process that is completely environment friendly. There is no exploration risk involved and no decline curve, a completely different business model from the conventional oil producer. The extracted oil will be sold to refineries throughout the Intermountain West of the United States. The left over sand is oil free, and suitable for sale as a premium construction material, for use as backfill or for a number of other commercial purposes.

The State of Utah, including personal interest by Governor Jon M. Huntsman, Jr., has expressed its strong support and encouragement to the development of the extraction of oil from oil sands and shale, and has indicated it will assist any proven operation to get into production as soon as possible. U.S. Senator Orin G. Hatch has also pledged his support. Support of local governments in Eastern Utah is also very favorable. The Uintah County Commission promotes the development of tar sands and oil shale extraction and supports and encourages efforts to commercialize the area's resources.

AREC's President Edmund Gorman said, "AREC is a leader in this field and with the proposed transaction between AREC and Warrior Girl, the sky's the limit. The U.S. could be the next Saudi Arabia, but in the area of oil sands/shale."

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