Enerbrite Technologies Group Paves Way to Meet Future Global Oil Demand
Enerbrite Technologies Group, along with its wholly owned subsidiary Rebel Oil Company, is implementing a growth program designed to increase production of oil and to begin exploratory drilling for natural gas. The plan calls for re-working and repairing the existing 76 wells but the Company also believes this is the time to acquire undervalued properties and assets and to quickly identify, target and develop plans for future production. This will effectively exploit the increased global demand for oil that many of the larger competing companies would not be able to accommodate should demand increase quickly in a resurging economy.
Enerbrite Technologies Group has identified approximately 88 operating oil wells on land adjacent to its property. With the successful acquisition of these wells, the Company could double current production. The Company's primary advantage over larger competitors is significantly lower operating costs, lower cost of acquisition, and the ability to move quickly to identify and acquire exploitable assets.
"The time is right to acquire a mixed portfolio of producing assets to enhance the Company's growth,'' said Jack L. Stapleton, President of Enerbrite Technologies Group. "We are committed to providing our shareholders with value added transactions.''