HOUSTON, TX — (Marketwire) — 09/29/11 — NDB Energy, Inc. (OTCQB: NDBE) (PINKSHEETS: NDBE), an emerging independent oil and gas company, today announced that it has acquired a total of 12 new wells on two separate leases in Archer County, Texas, as part of the Company–s early plans to build its portfolio of undervalued and underdeveloped assets.
“In the short run, we have two main goals. First, we must systematically put wells back on line creating cash flow. Second, we must secure the financing necessary to acquire and develop undervalued properties which present opportunity for increasing reserves, production and shareholder value,” explained President and CEO of NDB Energy, Inc., Mr. James J. Cerna, a successful company leader with more than 20 years of experience in the energy industry.
Mr. Cerna is a proven company builder with notable tenure as Chairman of the Board and CEO of Lucas Energy, Inc. He also served as President of privately-held Lucas Energy Resources. Prior to joining Lucas Energy, Mr. Cerna was Chief Oil and Gas Analyst and CFO of Petroleum Partners LLC and Manager of the GT Global/AIM Funds performance analysis group in San Francisco. Mr. Cerna has served as an executive and director with companies listed on the NYSE Amex, NASDAQ, and emerging markets.
Commenting on today–s announcement, NDB Energy–s Chief Financial Officer Mr. Amit S. Dang stated, “The bulk of our effort is in re-working existing wells which were abandoned, shut-in or are underperforming. By focusing on existing wells NDB Energy seeks to mitigate exploration risk and develop immediate cash flow.”
The Company–s newly acquired Parish and Tribune properties include 12 wells on approximately 140 acres in Archer County. Today–s announcement expands the Company–s recently acquired 560-acre leaseholds in Gonzales and Young Counties. Both acquisitions are in the State of Texas.
NDB Energy, Inc. is an emerging independent oil and gas company, exploring, developing, producing, and marketing crude oil and natural gas from various known prolific and productive geological formations. The Company is focused on building and developing a portfolio of oil and gas assets by acquiring undervalued, underdeveloped and underperforming properties, with the prospect of increasing production in an economical and profitable manner.
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Legal Notice Regarding Forward-Looking Statements
No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although NDB Energy, Inc. (the “Company” or “NDB Energy”) believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, termination of contracts or agreements, our ability to establish or find reserves; volatility in market prices for natural gas and crude oil; liabilities inherent in natural gas and crude oil operations; uncertainties associated with estimating natural gas reserves and crude oil; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; political instability or changes of laws in the countries in which we operate and risks of terrorist attacks; incorrect assessments of the value of acquisitions; geological, technical, drilling and processing problems; and the uncertainty inherent in the litigation process, including the possibility of newly discovered evidence or the acceptance of novel legal theories, and the difficulties in predicting the decisions of judges and juries., litigation and administrative proceedings involving the Company, the possible acquisition of new businesses or technologies that result in operating losses or that do not perform as anticipated, unanticipated losses, the possible fluctuation and volatility of the Company–s operating results, financial condition and stock price, losses incurred in litigating and settling cases, dilution in the Company–s ownership of its business, adverse publicity and news coverage, inability to carry out exploration or drilling plans, loss or retirement of key executives or third-party contractors, changes in interest rates, inflationary factors, and other specific risks. There can be no assurance that we will be able to locate or acquire additional lands or that further exploration of our properties will yield commercially viable reserves, if any. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that NDB Energy will be able to acquire additional properties or locate commercially viable reserves, if any, on our current leased lands. In addition, other factors that could cause actual results to differ materially are discussed in the Company–s most recent Form 10-Q and Form 10-K filings with the Securities and Exchange Commission. These reports and filings may be inspected and copied at the Public Reference Room maintained by the U.S. Securities & Exchange Commission at 100 F Street, N.E., Washington, D.C. 20549. You can obtain information about operation of the Public Reference Room by calling the U.S. Securities & Exchange Commission at 1-800-SEC-0330. The U.S. Securities & Exchange Commission also maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the U.S. Securities & Exchange Commission at . The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.