TORONTO, May 2 /CNW/ - Eagleford Energy Inc. (OTCBB "EFRDF") ("Eagleford
Energy" or the "Company") announces that it has entered into a
consulting agreement with Stockwire Research Group Inc., of Austin,
Texas ("Stockwire") to provide corporate marketing and public relations
services to the Company for a period of six months. The Company has
agreed to compensate Stockwire by issuing 100,000 restricted common
shares and 50,000 restricted common share purchase warrants exercisable
at US $1.25 per common share for a period of 12 months from the date of
The Company is also pleased to announce that the Matthews/Dyami #3 well
has reached its projected target depth to the San Miguel formation and
testing is currently underway. The Company's Matthews Lease comprises
2,629 acres of land in Zavala County, Texas and is situated adjacent to
the Redhawk land block under development by Petrohawk Energy
Corporation (NYSE: HK). Zavala County, Texas is part of the Maverick
Basin of Southwest Texas and downdip from the United States Geological
Studies north boundary of the Smackover-Austin-Eagle Ford total
petroleum system. This area is often referred to as the oil window of
the present Eagle Ford shale play
About Eagleford Energy Inc.
Eagleford Energy Inc. is a growth orientated oil and gas company with a
focus on growing hydrocarbon reserves, cash flow, and net asset value
per share through exploration and production of mineral properties in
South Texas. There are approximately 33 million shares issued and
outstanding in the capital of the Company.
Certain information regarding the Company in this news release may
constitute forward-looking statements under applicable securities laws.
The forward-looking information includes, without limitation,
projections or estimates made by us and our management in connection
with our business operations. Various assumptions were used in drawing
the conclusions or making the forecasts and projections contained in
the forward-looking information contained in this press release, which
assumptions are based on management analysis of historical trends,
experience, current conditions and expected future developments
pertaining to the Company and the industry in which it operates as well
as certain assumptions as specifically outlined in the release above.
Forward-looking information is based on current expectations, estimates
and projections that involve a number of risks, which could cause
actual results to vary and in some instances to differ materially from
those anticipated by the Company and described in the forward-looking
information contained in this press release. Undue reliance should not
be placed on forward-looking information, which is not a guarantee of
performance and is subject to a number of risks or uncertainties.
Readers are cautioned that the foregoing list of risk factors is not
exhaustive. Forward-looking information is based on the estimates and
opinions of the Company's management at the time the information is
released and the Company disclaims any intent or obligation to update
publicly any such forward-looking information, whether as a result of
new information, future events or otherwise, other than as expressly
required by applicable securities laws.
SOURCE Eagleford Energy Inc.
For further information:
Eagleford Energy Inc.
Facsimile: 416 364-8244