SALT LAKE CITY, Dec. 27 /PRNewswire-FirstCall/ -- The internationally
acclaimed La Caille restaurant (http://www.lacaille.com), located 20 minutes
south of Salt Lake City, will be closed to the general public on Wednesday,
December 28, 2005 in order to host an exclusive, by invitation only event for
Granite Energy, Inc., a leading independent energy company headquartered in
Texas, focused on oil and gas development, exploration and production.
Granite Energy has reserved the entire La Caille restaurant, staff and
facilities to host its officers, directors, shareholders and VIP guests from
across the country. According to La Caille event coordinator Sharon Camp,
Granite Energy is throwing the biggest, most exquisite event ever hosted by
the La Caille. Granite Energy plans to make important announcements at the
The event has some very unique attributes, such as a custom beverage and
wet bar built and carved out of 2000 pounds of solid ice. In addition, Granite
Energy has retained nationally acclaimed Las Vegas performer Jason Hewlitt to
provide after dinner musical comedy, Joe Muscolino's 11-piece band and
vocalists to provide late evening musical and dancing entertainment, as well
as a String Quartet for ambiance during dinner.
The event is hosted by Salt Lake City developers Mr. and Mrs. David and
Joyce Halling, and by Norma J. Nichols of Ranchester, Wyoming.
Notable invitees include: Senior Economic Development Advisor, Chris
Roybal from Governor Jon Huntsman's office; Utah artist, Mr. Chad Hawkins, who
has received commissions from Governor Huntsman's office, the Utah State
Legislature and other distinguished commissions; guests from the following
organizations: Utah Geological Association, Society of Petroleum Engineers,
American Association of Petroleum Geologists, Utah Petroleum Association and
the Utah Division of Oil, Gas, Mining, Department of Natural Resources; and C-
level officers from leading corporations.
Granite Energy, Inc. (OTC: GNGI) announced today that it is a publicly
traded company and its shares trade under the ticker symbol GNGI. "As a
public company, we are well-positioned to grow our core business, while
leveraging our financial strength and powerful brand in higher growth adjacent
market segments," said Mr. Benjamin Hoskins, President of Granite Energy, Inc.
Granite Energy participates in various joint ventures with other oil and
gas companies, institutions and select individuals.
Granite Energy is currently pursuing Utah oil exploration opportunities in
areas that follow similar trend lines and geology to the famous 2003 Wolverine
oil discovery in Central Utah near Sigurd, known as the Covenant Field. The
Covenant Field is now believed to hold as much as 200 million barrels of oil
or more, which is the largest on-shore discovery in the contiguous United
States in approximately 30 years.
Granite Energy has acquired options or contracts on various oil leases
which show tremendous oil potential based on the reinterpretation of past
geology, surface structure topography and drilling data. They have combined
this historical data with new data available, in large part due to the
Wolverine discovery. Extrapolation of the data and geology suggests possible
volumetrics of 1 Billion barrels of oil, or more, possible in one particular
area of interest to Granite Energy. Granite Energy believes that Utah will
play a significant role in oil production in the future.
About Granite Energy
Granite Energy ("Granite") (GNGI) is a leading independent energy company
headquartered in Texas and focused on oil and gas development, exploration and
production. With oil professionals in offices throughout North America,
Granite executes on a proprietary business model that enhances the lifecycle
for oil producing properties. Granite Energy has growing oil and gas holdings
in Texas and Oklahoma. The combination of Granite's methodologies, geological
and technical expertise enables Granite to deliver the tangible economic
benefits in the acquisition and development of oil and gas fields with both
current production as well as exploration and development of new prospects.
For more information visit http://www.GraniteEnergy.com.
Media Contact: Angelia Pinaga
Phone: (214) 608-7156
Investor Relations Contact:
S. Matthew Schultz/Chairman
161 North Main
Bountiful, UT 84010
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AFFECT FUTURE RESULTS
Safe Harbor Statement under the Private Securities Litigation Reform Act
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meaning of Section 27A of the Securities Act of 1933, as amended, and Section
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that include the words "believes," "expects," "anticipates" or similar
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SOURCE Granite Energy, Inc.