LAS VEGAS, NEVADA — (Marketwire) — 01/24/12 — American Community Development, Inc. (PINKSHEETS: ACDP), by mutual agreement, has cancelled a Letter of Intent to acquire oil and gas assets from CJSC Chedty Neft of Russia.
About American Community Development, Inc.:
ACDP is an emerging oil and gas company, focusing its exploration activity on oil and gas reserves onshore within the USA. ACDP will also consider select offshore production opportunities. ACDP has assembled a seasoned team of managers and technical professionals in the areas of geology, geophysics, engineering, and legal. ACDP is positioning itself for aggressive asset growth and shareholder value enhancement.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the Company and its operations, are included on certain forms the Company files with the Securities and Exchange Commission.
Contacts:
American Community Development, Inc.
Bruce A. Thomson, B.A.Sc.
President & CEO
702-605-0145