ABBOTSFORD, BC, May 3 /CNW/ - First Choice Products Inc. (CNSX: FCI)
(the "Company") has completed formation of its wholly owned Alberta
corporation; PetroQuest Ventures Inc. ("PetroQuest") PetroQuest will
develop oil and gas interests as part of FCI's initial expansion into
additional business opportunities. PetroQuest will operate under the
supervision of the FCI board of directors but have its own management.
Funding will come from FCI in PetroQuest's initial projects until such
time as it has its own cash flow.
About PetroQuest Ventures Inc.:
PetroQuest is a wholly owned subsidiary of First Choice Products Inc.
(FCI) which will seek opportunities in the energy sector to enhance the
activities and future value to FCI. PetroQuest will be a junior oil and
gas exploration and development company for the purpose of acquiring,
exploring and developing oil and gas prospects in western Canada.
PetroQuest is reviewing several projects in central Alberta for its
initial opportunity in the energy sector and hopes to finalize a
commitment shortly. Details of any project that PetroQuest acquires or
participates in will be announced in due course.
The Company's common shares are listed for trading on the Canadian
National Stock Exchange (CNSX) under the trading symbol "FCI".
On Behalf of the Board: Robert A. Sim, President
FIRST CHOICE PRODUCTS INC.
THE CANADIAN NATIONAL STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT
ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Safe Harbour Statement and Disclaimer:
This Press Release includes "forward-looking statements". A statement
identified by the words "expects", "projects", "plans", and certain of
the other foregoing statements may be deemed forward-looking
statements. Although First Choice Products Inc. believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that may
cause actual future activities and results to be materially different
from those suggested or described in this press release. These include
risks inherent in the development and production of oil wells,
including risks of fire, explosion, blowout, pipe failure, casing
collapse, unusual or unexpected formation pressures, environmental
hazards, and other operating and production risks inherent in oil
production activities, which may temporarily or permanently reduce
production or cause initial production or test results to not be
indicative of future well performance or delay the timing of sales or
completion of production operations; risks with respect to oil prices,
a material decline in which could cause the Company to delay or suspend
planned drilling operations or reduce production levels; and risks
relating to the availability of capital to fund drilling operations
that can be adversely affected by adverse drilling results, production
declines and declines in oil prices and other risk factors.
SOURCE First Choice Products Inc.
For further information:
FIRST CHOICE PRODUCTS INC.
#6 - 2076 Townline Rd., Abbotsford, B.C. V2T 6E5
Toll-Free (866) 719-2988 Fax (604) 853-3119
PETROQUEST VENTURES INC.
LW3-1185 the High St. Coquitlam B.C. V3B 0A9
(604)-475-0590 Fax (604) 475-0590