KAL Energy, Inc (OTCBB:KALG) (FWB:D9T) recently held a series of Investor Overview Conference Calls reviewing FY07 activities, explaining the Company restructuring Program and outlining key goals for the coming financial year. Mr. Bloking, Executive Chairman of KAL Energy, hosted the sessions covering key elements including;
- A recap of FY07 activities; Phase 1 Exploration of the “Graha” Concession, Acquisition Activities; Capital Raisings
- A review of the Restructuring Program results; Focus shift to Development, Geographic Consolidation, Streamlining of Management, yielding a reduction in core burn rate from >USD500K/month to ~USD200K.
- Exploration Goals for FY08; Upgrading the Graha JORC Inferred Resource to JORC Measure Resource and Proven Reserves; Phase 1 Exploration of Bunyut.
- Development Goals for FY08; Community Relations Program, Aerial Topography, River Surveying, AMDAL, Pre-Feasibility Study, Exploration to Exploitation License Conversion
- Corporate Goals for FY08; CEO search, Capital Raising Requirements, Board Expansion, Investor Communication revamp, relation to Indonesia, move to a more senior stock exchange.
- Review of the big picture; Vision beyond FY08, Market Fundamentals, KAL Strategic Position
Mr. Bloking, executive chairman of KAL Energy, hosted the sessions and stated “Our first Investor Conference Calls in July were a great opportunity for investors to get hear directly from the KAL Energy leadership team on a wide range of topics relevant to KAL Energy and our investors. If not more importantly, the forum also provided participant with direct access to put questions of the KAL team. With both session well attended, we are looking forward to our next Quarterly review to be scheduled in the second week of October.”
For those who were not able to attend the call, a recording of the event is now available from the KAL Energy website in the Investor Relations section (http://www.kalenergyinc.com/pages/investor-relations).
For more information on KAL Energy, Inc. please visit our web site at www.kalenergyinc.com
KAL Energy, Inc. has rights to two coal concessions situated near the Mahakam River in North Eastern Kalimantan, Indonesia. This river is a key transportation system for delivering coal to domestic and international markets. One of the concessions has a JORC Compliant Inferred Resource of 204 Million tonnes of thermal coal. With numerous other coal mines in East Kalimantan, including the world's largest thermal coal exporter Kaltim Prima Coal (KPC), KAL Energy's concessions are in a region that is known for its extensive open pit thermal coal producing mines and environmentally friendlier coal product. Indonesia has recently surpassed Australia as the world's leading thermal coal exporter.
Notice Regarding Forward-Looking Statements
This news release contains statements regarding our expectations, beliefs or views about our future financial performance, which constitute "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "project," or future or conditional verbs such as "will," "would," "should," "could," or "may." Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Certain factors could cause actual results and conditions to differ materially from those projected in these forward looking statements. These factors are identified from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to update such statements to reflect subsequent events.
Contacts:
Mr. William Bloking –
Executive Chairman
Tel : +65 6333 7234
Fax: +65 6333 7235
www.kalenergyinc.com
