XnE, Inc. Enters Oil and Gas Sector with Aggressive Growth Strategy

NORTHRIDGE, Calif., May 11, 2011 /PRNewswire/ -- XnE, Inc. (Pink Sheets: XNEZ) is pleased to announce the new direction of the Company into the Oil and Gas Sector. The Company intends to implement its aggressive growth strategy by acquiring oil wells that are believed to be underdeveloped or have the potential to recover oil reserves that are still in place. Our geographical focus is to develop small to mid tier oil and gas properties in Oklahoma and the continental United States.

According to the U.S. Energy Information Administration (EIA), Oklahoma has been a historically prolific producer of oil and gas and currently has over 83,000 oil wells and 43,000 gas wells producing annually more than 59 million barrels of oil and 1.6 billion Mcf of natural gas, respectively. The domestic proved reserves of crude oil increased by 9 percent to 22.3 billion barrels in 2009. These increases demonstrate the strength of the energy market and the role for domestic natural gas and crude oil in meeting both current and projected U.S. energy demands.  

"We will continue to work diligently on behalf of shareholders in this new corporate era," said Imran Firoz, President of XnE, Inc. "We believe that any addition the Company can make by moving forward to develop and manage oil and gas properties in Oklahoma while adding to domestic reserves makes for a stronger America."

About the Company

XnE, Inc. is a domestic onshore oil and gas acquisition corporation based in Northridge, California which is engaged in acquisition, development, and production of oil and gas properties in the United States. XnE is committed to grow its current production rate by implementing an aggressive acquisition strategy that is based on a positive outlook in the oil and gas sector and finding opportunistic deals with mineral owners.

Forward-Looking Statement

Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

SOURCE XnE, Inc.