Bayside Corp. Announces Joint Venture with C-Trade Group, for Heavy Fuel Oil Exports
Bayside Corp. creates financing joint venture for $160,500,000 in monthly heavy fuel oil export bank guarantees and contract structuring.
DALLAS, July 24, 2013 /PRNewswire/ -- Bayside Corp. (OTC: BYSD) an energy exploration, development and production company today announced a joint venture with C-Trade Group, Inc. a petroleum logistics trade and finance company for heavy fuel oil exports.
Under the agreement C-Trade Group, Inc. will help to provide financing and contract support in the form of monthly bank guarantees in the amount of $160,500,000 for international heavy fuel oil exports.
Additionally, the C-Trade Group and Bayside Corp. have previously worked together successfully under a joint venture financing agreement for the redeveloping of existing oil fields using today's technology to restore and access more production from wells that were drilled 30 plus years ago.
Gordon Johnson was quoted as saying, "We are pleased to be able to partner with the C-Trade Group once more to continue our efforts to expand our revenue base."
Bayside Corporation is an energy exploration, development and production company building oil & gas reserves and production in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the business of reworking & re-completing 'marginal' oil & gas wells located in the thousands of mature oil & gas producing fields across much of the United States.
For additional information on the Company visit our website at: http://baysidepetroleum.com/
Safe Harbor Statement
This press release may contain projections and other 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, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such projections or statement reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and that actual results could differ materially from those projected. Important factors that could cause actual results to differ from those projected are decreases in oil and gas prices or decreases in oil and gas production. The company's actual results could differ materially from those discussed herein. Forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements.
SOURCE Bayside Corp.
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