CORRECTION: South Texas Energy Acquisition
October 18 2013 - 3:35PM
OTC Markets
Houston, TX - Nexus Energy Services Inc.
(PHARD: OTC Pink)is excited to announce an acquisition in
South Texas from a private Texas basedoil and gas company for $1.5
million in a combination of cash, stock and notes,effective August
1, 2013. Thisacquisition consists of a 100 percent of the
Working Interest in a 250 acrelease in the upper and lower Frio
Basin. Chief Financial Officer and Director Loretta Higgins
said, "Based on thegeological and reserve reports, this
acquisition will lead Nexus entry intothe energy production sector
with proven profitability and potential for futuredevelopment."
Ms. Higgins stated, "This acquisition
incorporates anexisting cash flow from one producing well and two
proven undeveloped locationscontaining upwards of 300,000 barrels
of oil. This information will be reflected in the 2013 annual
report." The September 2013 annual report will be
madeavailable on or around October 25, 2013. Ms. Higgins
noted, "The early release of this annual report signals our
newcommitment to supply timely and accurate information to
shareholders. This annual report will include
restated financialstatements as result of thorough and ongoing
examinations of the books and recordsof Pharmstar
Pharmaceuticals. This examinationis essential due to an
inability to validate previously released financialstatements."
Investors should be advised that as part of
this internalreview, past quarterly and yearly financial statements
can no longer be reliedupon and a restatement will be published on
or about November 8, 2013.
FORWARD-LOOKING
STATEMENTS
The information in this news release includes
certainforward-looking statements that are based upon assumptions
that in the futuremay prove not to have been accurate and are
subject to significant risks anduncertainties, including statements
related to the future financial performanceof the Company.
Although the Companybelieves that the expectations reflected in the
forward-looking statements arereasonable, it can give no assurance
that such expectations or any of itsforward-looking statements will
prove to be correct. Factors that could cause results to
differinclude, but are not limited to, successful execution of
growth strategies,product development and acceptance, the impact of
competitive services andpricing, general economic conditions, and
other risks and uncertaintiesdescribed in the Company's periodic
filings with the OTC Markets.