Lighthouse Petroleum, Inc. Announces Joint Venture With Matmown Oil & Gas, Inc.
NEW YORK, April 18, 2013 /PRNewswire/ -- Lighthouse Petroleum, Inc. ("Lighthouse") (PINKSHEETS: LHPT), a growth oriented energy company focusing on the exploration and production of oil and gas, today announces that it has entered into a joint venture agreement with Matmown Oil and Gas, Inc. ("Matmown"), a wholly owned subsidiary of Matmown, Inc. (PINKSHEETS: MTMW). Matmown will be the operator in the joint venture relationship, and expects to workover several existing wells during the coming quarters, beginning as early as the next few weeks. This new joint venture will be managed under standard industry terms, and will relate to acreage currently held by Matmown Oil and Gas Inc., or acreage to be acquired in the future.
"Lighthouse is extremely pleased to have Matmown as a joint venture partner for its LHPT 2013 Exploration Program in the Burleson County, Texas area," commented Gerard Danos, President of Lighthouse Petroleum, who continued, "We anticipate a long relationship with Matmown Oil & Gas, Inc., guided by Mr. William Sawyer, President and CEO, who has over 35 years of diverse experience in the energy industry, including being the former President, CEO, and co-founder of Lucas Energy, Inc., a company currently trading on the NYSE MKT."
Matmown, Inc. has subsidiaries in the United States and South America. The US-based subsidiary has offices in Texas and is engaged in the oil and gas exploration and production business. A subsidiary in Peru owns 17,000 acres of gold mining property. Mr. Sawyer commented, "We are pleased to have a joint venture with another public company in the oil and gas business. Mr. Danos and Lighthouse Petroleum are the type of partners we like."
Forward Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Lighthouse Petroleum, Inc. is an exploration company with limited experience in the oil and gas industry. At the time of this release Lighthouse Petroleum, Inc. lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Lighthouse would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider are that this list is limited and additional risk not mentioned may apply: failure to meet Lighthouse's financial and contractual obligations, Lighthouse's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
Gerard Danos, President
Lighthouse Petroleum, Inc.
SOURCE Lighthouse Petroleum, Inc.