Matmown Announces Substantial Oil and Gas Acquisition in Texas
December 21 2011 - 7:59AM
Matmown, Inc. ("Matmown") (OTC Pink Sheets: MTMW) (www.Matmown.com)
is pleased to announce that it has signed a series of agreements
effective January 1, 2012, with TX Oil Corp. ("TX Oil"), Harmony
Exploration, Inc. ("Harmony Exploration") and stockholders of TX
Oil, pursuant to which Harmony Exploration will transfer certain
oil and gas interests to TX Oil and Matmown will acquire all of the
equity interest of TX Oil. This acquisition will allow Matmown to
control under a working interest, $26,578,000 (representing
undiscounted future net cash flow) of Proved Reserves, 9 well
bores, all above and below ground equipment associated, and 812
acres of mineral leases in the well-established Eagleford Shale,
Austin Chalk, Georgetown and Buda formations of central
Texas. Harmony Exploration will continue to operate these
wells for at least the next 12 months, during this transition.
Harmony Exploration has been owned and operated by Mr. Glen
Chmelar and Mrs. Patsy Chmelar for the last 26 years. Mr. and
Mrs. Chmelar each have over 30 years' experience in the oil and gas
business in Texas, with a concentration in the oil and gas rich
central Texas region. "We are excited about our oil & gas
assets and production joining with Matmown and we believe that this
transaction is of great benefit to the overall growth of Matmown as
a whole," quotes Glen Chmelar.
Matmown Chairman, Alex Portelli is quoted as saying, "We could
not be more pleased with this acquisition. With our copper assets
in Chile, our gold assets in Peru and now with producing oil and
gas fields in Texas, we feel that the Matmown is developing
properly to become a well-recognized company in the sector."
About Matmown
Matmown is a gold, copper and now oil and gas company focusing
on exploration, production and acquisition of various natural
rescource assets through their wholly owned subsidiaries. Matmown,
Inc. currently controls mineral assets Peru, northern Chile and
central Texas.
For additional news and information on Matmown, contact Alex
Portelli at 702.998.9853 or visit
www.matmown.com.
Forward-looking Statements
This press release contains forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. As with any projection or
forecast, these forward-looking statements and forecasts are
inherently susceptible to uncertainty and changes in circumstances,
and Matmown is under no obligation, and expressly disclaims any
obligation, to update or alter its forward-looking statements,
whether as a result of new information, subsequent events or
otherwise. Actual results may differ materially from the
expectations contained herein due to changes in economic, business,
competitive, technological, strategic and/or regulatory factors and
other factors affecting the operation of the businesses of
Matmown.
Contact: Alex Portelli Chairman Matmown
Inc. Ph: 702-998-9853 alex@matmown.com
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