Orofino Gold Corp: Bakken Energy Corp Begins Facilitation of Oil Deal to Bring Major Revenues to the Bottom Line
LAS VEGAS, June 11, 2014 /PRNewswire/ - Orofino Gold Corp. (PINK OTC: ORFG) ("Orofino Gold" or the "Company") is pleased to announce that the Company's Board of Directors have started negotiating transactions with key players in the Uinta Basin to bring increased revenues to the company. Currently the company is working on a deal to bring two companies together in the sale of major oil assets and plans on retaining a portion of the profits. Bakken because of Non-Disclosers with the companies cannot disclose details of the deal until completed, as pricing is a part of the negotiation.
Bakken Energy is currently acting as a facilitator in the Coal, Oil, and Leasing sectors. As a result of this the net revenues generated from this are expected to generate roughly Ten million, (10,000,000) annually to the bottom line of the company. Bakken's role includes, but is not limited to bringing both buyer and seller to the table for the above sectors, becoming either the buyer or seller, and lastly providing services for these entities. It is expected that this revenue will start impacting the bottom line within 60 days due to purchases and shipping timelines. Furthermore, these contracts, collectively will amount to 36 months of recurring revenues. The company will announce the details of the first deal by the end of the month.
Bakken is further expanding its reach into the Energy land, Real Estate sector by both purchasing and or leasing land that comes with mineral rights as to enable drilling or E&P services on such land. The company is currently looking at land to satisfy these needs in Utah, North Dakota, South Dakota, Wyoming, New Mexico, and Colorado.
The company expects to have the name change and information for the dividend completed shortly as they await approval from FINRA on both.
These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
SOURCE Orofino Gold Corp.