White River Energy Corp Engages Truuli Environmental for Carbon Emission Reduction Engagement

By: White River Energy Corp via Business Wire

November 29, 2023 at 08:30 AM EST

White River Energy Corp (“White River” or “The Company”) (OTCQB: WTRV), a vertically integrated energy company with oil and gas exploration, production, and drilling operations on approximately 34,000 cumulative acres of oil and gas mineral leases in the U.S. Gulf Basin, has engaged Truuli Environmental Inc. (“Truuli”) to utilize Truuli’s decarbonization as a service (“DAAS”) process to reduce the Company’s carbon emissions. Pursuant to the engagement, Truuli will assess White River’s carbon footprint and its impact on the Company’s core business of oil and gas exploration and production. Truuli will develop and implement an emissions reduction plan and identify the generation of carbon and other eligible tax credits for White River. White River expects to achieve carbon-neutral status by the conclusion of this engagement.

“White River is extremely excited to be working with Truuli on this important strategic engagement for our Company,” stated Randy May, Chief Executive Officer of White River. “Our country is still highly dependent on petroleum and petroleum byproducts, so White River intends to continue to meet a portion of that demand but in a carbon-neutral manner going forward as a part of our Company’s commitment to environmental, social, and governance (“ESG”) initiatives.”

“We were extremely impressed with White River’s strategic plan to grow its company by first achieving carbon-neutral status and ultimately achieving carbon-zero status,” stated Livio Stan, Chief Executive Officer of Truuli. “There are significant environmental regulations on the horizon for energy companies, so Truuli plans to put White River ahead of its competition through our engagement.”

“As part of this engagement, we plan to develop a new White River green energy line of business which will be commenced by working with Truuli to develop measurable and verifiable decarbonization attributes in the form of carbon credits and carbon offsets that can be used to offset certain carbon-generating activities or monetized through various carbon attribute trading markets,” stated Jay Puchir, Chief Financial Officer of White River.

About White River Energy Corp

White River Energy Corp is a vertically integrated energy company with oil and gas exploration, production, and drilling operations on over 34,000 cumulative acres of oil and gas mineral leases in Louisiana and Mississippi.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s engagement of Truuli to pursue its decarbonization initiatives and the expected results of those efforts, including achieving carbon-neutral status by the end of the engagement, as well as the anticipated development of carbon credit eligibility products. All statements other than statements of historical facts contained in this Report, including statements regarding our future financial position, liquidity, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.

The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include the possibility that the Company and Truuli are unable to meet the objectives or expected results of the engagement, regulatory developments and challenges including the ability for the Company to proceed with any carbon credit eligibility products as intended, the potential for enhanced regulatory compliance requirements or costs, the risk that our efforts to reduce our carbon footprint will give rise to substantial costs and subject us to headwinds in our operational capabilities or the economic viability of our business model, difficult challenges of an oil and gas company being carbon neutral and carbon zero which could require a divesting of our oil and gas business and development of new technologies in order to be carbon zero, the impact and cost of being carbon neutral and carbon zero, and political risks as ESG is beginning to face some corporate resistance, together with those risk factors contained in White River’s Registration Statement filed with the SEC, as amended (File No. 333- 268707), as supplemented from time-to-time, together with other filings made by White River with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.