Proper Power & Energy Evaluating Joint Venture Partnerships

Jun 21, 2010, 16:15 ET from Proper Power & Energy, Inc.

TAMPA, Fla., June 21 /PRNewswire-FirstCall/ -- Proper Power & Energy, Inc. (OTC Bulletin Board: PPWE) announced today that over the past few months, the Company has been interviewing and evaluating potential joint venture partners for the commencement of drilling on its Utah property.  In the recent meeting, the Board of Directors has decided to narrow their choices to three companies.  All three companies possess the characteristics that Proper Power feels it will need for future success in Utah.  All three companies have more than 10 years experience in both Oil and Gas drilling.  Most important to the Company is that all three companies maintain equipment and properties in surrounding areas.  

Mr. Joe Abdo, President of Proper Power & Energy, commented, "Aligning ourselves with a Company that has vast experience and resources in the general area of where we will commence drilling is invaluable to our success in Utah."  

Mr. Tanel Rashid was also consulted in the evaluation process.  Mr. Rashid was appointed Production Advisor by the Company last month on an outside, after hours, basis.

Mr. Rashid added, "Given my extensive experience in the industry, I am in complete agreement with Mr. Abdo that having potential partners in the same geographic area is very useful to successful implementation of our business plan."

About Proper Power & Energy:

Proper Power & Energy was formed in 2006 as an exploration and production company for oil and gas.  The organization is committed to utilizing a very dynamic system of research and testing, and as a result of this extensive research and testing, have selected several sites with very good to excellent potential for productivity.  

Safe Harbor Statement:

Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

Contact Information

Corporate: Nicole Propp

Investor Contact: Daniel Conway

DC Consulting, LLC

(407) 792-3332

SOURCE Proper Power & Energy, Inc.