EX-99.1
3
v119606_ex99-1.htm
Unassociated Document
Knight
Energy Corp. Subsidiary Purchases Two Drilling Rigs
Irving,
Texas, July 10, 2008 (Vintage Newswire) - On July 8, 2008 Charles Hill
Drilling, Inc. ("Hill"), a wholly-owned subsidiary of Knight Energy Corp.
("Knight") (OTC: KNEC) (Frankfurt IG1A.F), purchased two drilling rigs and
related assets from an unrelated party. The drilling rigs were purchased for
$1,500,000 with proceeds from a recently-completed $2,500,000 debt financing.
William
J. Bosso, CEO of Knight, commented, "We are very pleased that we have been able
to obtain additional rigging equipment. We intend to use one of these rigs
to
pursue drilling opportunities on our oil and gas properties".
About
Knight Energy Corp.
Knight
Energy Corp. ("Knight") was formed in March 2006 for the purpose of operating
and developing energy-related businesses and assets. The Company, together
with its wholly-owned subsidiary, Charles Hill Drilling, Inc., owns oil and
gas
leases covering 1,240 acres in Stephens and Eastland Counties, Texas, and it
has
the right of first refusal on approximately 2,900 more acres in the same area.
The Company also owns three drilling rigs and approximately 1,000 undeveloped
oil and gas leasehold acres in the Salt Creek Prospect area of
Oklahoma.
As
of May
15, 2008, Knight had a 100% working interest in 20 producing oil and/or gas
wells, with seven additional wells awaiting completion. The Company is currently
reviewing further acquisitions and investments in the oil and gas industry
as
well as other energy related businesses and assets. Additional information
is available at Knight's website at www.knightenergycorp.com.
Forward-Looking
Statements:
The
Private Securities Litigation Reform Act of 1995 provides a safe harbor for
forward-looking statements made on behalf of the Company and its subsidiaries.
All such forward-looking statements are, by necessity, only estimates of future
results and actual results achieved by the Company may differ materially from
these statements due to a number of factors. Any forward-looking statements
speak only as of the date made. Statements made in this document that are not
purely historical are forward-looking statements, including any statements
as to
beliefs, plans, expectations, or intentions regarding the future. Risk factors
that may cause results to differ from projections include, without limitation,
loss of suppliers, loss of customers, inadequate capital, competition, loss
of
key executives, declining oil and gas prices, and other economic factors. The
Company assumes no obligations to update these forward-looking statements to
reflect actual results, changes in assumptions or changes in other factors
affecting such statements. Potential investors should independently investigate
and fully understand all risks before making investment decisions.
Contact
Jesse
Blum
Friedland
Capital, Inc
303-468-1287
Jesse@friedlandcapital.com
www.knightenergycorp.com
©
2008
Knight Energy Corp. All rights reserved

EX - 99 . 1 3 v119606 _ ex99 - 1 . htm Un associated Document Knight Energy Corp . Subsidiary Purchases Two Drilling Rigs Irving , Texas , July 10 , 2008 ( Vintage Newswire ) - On July 8 , 2008 Charles Hill Drilling , Inc . ( " Hill " ) , a wholly - owned subsidiary of Knight Energy Corp . ( " Knight " ) ( OTC : KNEC ) ( Frankfurt IG1A . F ) , purchased two drilling rigs and related assets from an unrelated party . The drilling rigs were purchased for $ 1,500,000 with proceeds from a recently - completed $ 2,500,000 debt financing . William J . Bosso , CEO of Knight , commented , " We are very pleased that we have been able to obtain additional rigging equipment . We intend to use one of these rigs to pursue drilling opportunities on our oil and gas properties " . About Knight Energy Corp . Knight Energy Corp . ( " Knight " ) was formed in March 2006 for the purpose of operating and developing energy - related businesses and assets . The Company , together with its wholly - owned subsidiary , Charles Hill Drilling , Inc . , owns oil and gas leases covering 1,240 acres in Stephens and Eastland Counties , Texas , and it has the right of first refusal on approximately 2,900 more acres in the same area . The Company also owns three drilling rigs and approximately 1,000 undeveloped oil and gas leasehold acres in the Salt Creek Prospect area of Oklahoma . As of May 15 , 2008 , Knight had a 100 % working interest in 20 producing oil and / or gas wells , with seven additional wells awaiting completion . The Company is currently reviewing further acquisitions and investments in the oil and gas industry as well as other energy related businesses and assets . Additional information is available at Knight 's website at www.knightenergycorp.com . Forward - Looking Statements : The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward - looking statements made on behalf of the Company and its subsidiaries . All such forward - looking statements are , by necessity , only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors . Any forward - looking statements speak only as of the date made . Statements made in this document that are not purely historical are forward - looking statements , including any statements as to beliefs , plans , expectations , or intentions regarding the future . Risk factors that may cause results to differ from projections include , without limitation , loss of suppliers , loss of customers , inadequate capital , competition , loss of key executives , declining oil and gas prices , and other economic factors . The Company assumes no obligations to update these forward - looking statements to reflect actual results , changes in assumptions or changes in other factors affecting such statements . Potential investors should independently investigate and fully understand all risks before making investment decisions . Contact Jesse Blum Friedland Capital , Inc 303 - 468 - 1287 Jesse@friedlandcapital.com www.knightenergycorp.com © 2008 Knight Energy Corp . All rights reserved