PLANO, TX, June 3, 2013 /CNW/ - Santa Fe Petroleum, Inc. (OTCBB: SFPI)
announced today that the management team continues to work diligently
towards achieving its business plan to move from an exploration stage
oil and gas company to a producing entity. Thus, the Company's current
primary focus is the acquisition of producing oil & gas properties with
additional drilling acreage to increase the Companies revenue income
and asset base.
According to Tom Griffin, CEO and Chairman of the Board of Santa Fe
Petroleum, Inc., "We remain focused on securing capital to utilize for
deploying across our system, generating strong returns and delivering
the positive results our shareholders expect. We look forward to
achieving solid production and long term reserves with our existing
leases. However, our current primary focus is the acquisition of
existing oil producing projects with substantial additional acreage for
ongoing drilling, thus additional possible production revenue for the
Company. We believe that the income from the acquisitions along with
successfully drilled projects will become a spring board for additional
larger production acquisitions, thus ongoing income growth and the
expansion of our asset base."
Santa Fe has always maintained a policy of stringent guidelines for the
selection of its drilling projects to reduce the risk as much as
possible, although there is no guarantee of a 100% success rate; Santa
Fe's commitment to its stock holders is to maintain the highest
possible standards for the selection of its projects.
The Company recently filed it first quarter financial report for 2013,
its 10-Q, thus maintaining timely filing of all its reporting
procedures as is the Company's policy.
About Santa Fe Petroleum Inc.:
Santa Fe's Management has over 50 years of combined oil and gas
development and production experience and plans the acquisition of
production projects as well as bringing its current leases into
production as soon as possible.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy securities in any jurisdiction.
This release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Statements
contained in this release that are not historical facts may be deemed
to be forward-looking statements. Investors are cautioned that
forward-looking statements are inherently uncertain. Actual performance
and results may differ materially from that projected or suggested
herein due to certain risks and uncertainties including, without
limitation, ability to obtain financing and regulatory and shareholder
approvals for anticipated actions.
SOURCE: Santa Fe Petroleum, Inc.
For further information:
For more information on Santa Fe, please visit www.sfpetroleum.com.