SALT LAKE CITY, Jan. 4, 2013 /PRNewswire/ -- ROIL:QB - Richfield Oil & Gas Company, 'ROIL' ("Richfield"), announced today that Richfield's common stock is now traded on the OTC:QB electronic exchange.
Douglas Hewitt, Sr., Richfield's Chairman, President and CEO, said "After a surprisingly long transition and numerous qualifying commenting periods with multiple agencies, Richfield is pleased to finally begin trading on the OTC:QB. Alpine Securities Corporation is acting as the initial market maker. It is anticipated that several other market makers will become active in late January 2013. We are looking forward to executing our business plan with the assistance and direction of our investment bankers."
About Richfield Oil & Gas Company
Richfield is an independent oil and natural gas company headquartered in Salt Lake City, Utah with substantially all of its producing assets located in Kansas and additional leasehold assets in Utah and Wyoming. Founded in April 2011 by seasoned industry executives, Richfield is dedicated to creating significant value through the disciplined acquisition and the development of its inventory of assets. Richfield is seeking to acquire assets within its areas of focus that have been determined to be low-risk development properties. Richfield purchases are primarily on a negotiated basis, utilizing its strong industry relationships. Richfield evaluates potential acquisitions by analyzing each wellbore in each field to identify upside potential.
In addition to its acquisition strategy, Richfield continues to develop and grow organically through the exploitation and development of its existing field inventory by the use of drilling, workover, recompletion and other lower-risk development projects to increase reserves and production.
Richfield applies a unique blend of technologies that allows us to be effective in its exploitation strategy. Richfield's team of industry professionals is experienced in analyzing the initial remaining reserve potential and utilizes its collective knowledge and experience to field unrealized or underestimated value through recompletions in existing wellbores, optimized facility management and low-risk development drilling. Richfield believes that its approach extends the economic life of fields and allows to increase the value of production for delivery to U.S. energy markets. Please visit www.richfieldoilandgas.com for additional information.
Safe HarborStatements about Richfield's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. Richfield intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to Richfield that is based on the beliefs of Richfield and/or its management as well as assumptions made by and information currently available to Richfield or its management. Richfield does not undertake any responsibility to update the forward-looking statements contained in this release.
SOURCE Richfield Oil & Gas Company