KOKO Ltd. Announces the Acquisition of Cardinal Energy Group, LLC 'The Acquisition Changes the Company Business Direction'
COLUMBUS, Ohio, Nov. 1, 2012 /PRNewswire/ -- KOKO Ltd (OTCQX: KOKX) today announced the acquisition of Cardinal Energy Group, LLC. The acquisition sets a new course for the Company. Cardinal Energy is an independent gas and oil producer that operates throughout the Continental United States. The Company is in the process of its name and symbol change.
Gregory Ruff, Director of KOKO Ltd comments, "The acquisition of Cardinal Energy begins the start of a new Company mission. We divested our holdings in the home appliance business so we can focus our sites on the oil and gas industry. We are confident this acquisition will increase our shareholder value considerably by providing a solid growth opportunity for our Company. The principals of Cardinal Energy have deep experience in producing oil and gas. They are also seasoned public company veterans. They intend to capitalize immediately on the proven formations they have targeted in the Appalachian Basin. They select prospects to invest in that within previously successful oil and gas fields. These fields have fallen into disuse or disrepair by their operators, but still offer tremendous revenue potential. By methodically refurbishing equipment and adding new technology, Cardinal has proven they can get these fields to once again produce significant returns with minimal investment."
ABOUT CARDINAL ENERGY GROUP, INC. (KOKX): (www.cardinalenergygroup.com) Cardinal Energy Group, Inc. is an independent Oil and Natural Gas producing company based in Columbus, Ohio. Cardinal is focused on producing oil and natural gas from proven formations that have existing wells that need remediation due to neglect or disrepair. Cardinal utilizes modern production methods and technology to restart or increase production through reworks or new drilling within the target field. The Company operates throughout the Continental United States.
ABOUT KOKO LTD.: KOKO Ltd. was a publically traded manufacturing company with previous success in the household durables industry
SOURCE KOKO Ltd.