Bald Eagle Energy Inc. (OTCBB:BEEI) (hereafter “Bald Eagle”). Effective July 21, 2008, Bald Eagle Energy began trading on the NASDAQ OTC BB exchange under the symbol 'BEEI'. Upon establishing itself with a new land position on Alaska's North Slope, the Company changed its name from Columbus Ventures Inc. to better reflect its new direction and business venture.
Bald Eagle holds a 100% Working Interest (WI) in six separate leases on Alaska's North Slope. Acquired through a Purchase Agreement signed in the first quarter of 2008, the six leases total 18,418 acres located east of the Arctic Fortitude Unit and south of the Prudhoe Bay Unit, which has produced in excess of 10 billion barrels of oil from North America's largest oil field – The Prudhoe Bay Field. The Company's land position is surrounded by large industry players BP, ExxonMobil, ConocoPhillips, Chevron and Anadarko, while being within range of important infrastructure such as the Trans Alaska Pipeline and the Dalton Highway.
Based in Dallas, Texas, Bald Eagle was formed in response to America's current oil crisis with intention toward enhancing America's energy independence. The Company's business model revolves around a commitment to decreasing America's petroleum shortfall and foreign oil dependence through developing Alaska's vast energy resources.
Alvaro Vollmers, Chief Financial Officer of Bald Eagle, stated: “Our company's primary area of interest is located near the largest oil field in North America, which has garnered much attention attracting many of the best people in the business. This allows us to enlist industry experts as consultants and third-party drilling companies with significant industry knowledge of Alaska, while reducing costs through keeping a minimum-sized experienced management team. We see the opportunity we have in Alaska as a prospect for long-term shareholder growth with the significant upside of our proximity to the Prudhoe Bay Field.”
Shareholders are invited to contact corporate communications toll free at (888) 254-2262 for further information.
About Bald Eagle Energy Inc.
Bald Eagle Energy Inc. was formed in response to America's oil crisis with the purpose of working toward American energy independence.
As a publicly traded Oil and Gas exploration company (NASDAQ OTC BB: BEEI) based in Dallas, Texas, Bald Eagle is also focused on building company and shareholder value with an eye on long-term growth.
Our business model stresses reduced capital expenditures through a minimized team of experienced management, retaining the consulting services of industry experts only when needed, and utilizing third party drilling companies to limit equipment and operating expenses.
At Bald Eagle, we maintain that America can do better than producing 5.1 million barrels of oil per day (MMBOPD) while consuming 20.7 MMBOPD for a daily petroleum shortfall of 15.6 million barrels. That is why we are committed to decreasing our nation's petroleum shortfall – and dependence on foreign oil – through the vast energy resources found in Alaska.
Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company's belief that we can increase the Company's assets and increase shareholder value by focusing on oil and gas exploration; it is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the uncertainty of the requirements demanded by environmental agencies, the Company's ability to raise financing for operations, breach by parties with whom we have contracted, inability to maintain qualified employees or consultants, competition for equipment, inability to obtain drilling permits, potential delays or obstacles in drilling operations and interpreting data, and the likelihood that no commercial quantities of gas are found or recoverable. Additional information on risks for the Company can be found in filings on Edgar of other junior oil and gas exploration companies with the US Securities and Exchange Commission.
Contacts:
Alvaro Vollmers, 888-254-2262
Chief
Financial Officer
