Press Release Source: Sunergy
Inc. On Tuesday March 16, 2010, 7:30 am
EDT
SCOTTSDALE, AZ--(Marketwire - 03/16/10) - Sunergy, Inc (the
"Company") (OTC.BB:SNEY
- News) has
formed a strategic alliance with a Global Petroleum trader and
supplier for petroleum sales in Ghana. Since 33.1 Billion
barrels of proven offshore oil were discovered last year in the
Gulf of Guinea of Ghana's coast, there has been a flurry of
activity between Exxon and The Chinese, to name a few majors in
vying for position in the famous Jubilee field. The Ghanian
government's purported share of the discovery is 3.31 billion
barrels (10%) over the next several years.
There is no production on stream yet, and Ghana is currently
starved for both crude oil and refined petroleum products for
its internal uses for business and supplies for its people.
Sunergy has elected to address the immediate needs of Ghana and
its small refinery and is proposing to deliver both crude oil
and refined products to supply the country's petroleum fuel
needs through our strategic partner who is prepared to deliver
all required items upon successful completion of final documents
with the appropriate parties in Ghana. This arrangement
contemplates remaining in place once the Ghanian oil comes on
stream.
Sunergy's role is as a partner in the strategic alliance in
facilitating the Ghanian petroleum supply business and in plans
to develop crude oil and other petroleum products storage
facilities in Ghana.
Karl A. Baum, President, Director, said: "Thanks to our
Regional Chief, Ne Ne Abiasi Agbonoo #3, we have been able to
make the appropriate contacts for the initiation of the
Petroleum supply business in Ghana. Another Advisor to our
Company brought the Global Petroleum Trading and Supply
connection, so I am proud of our Advisory team. This niche
business represents substantial potential cash flow with little
or no capital risk on our part. While it may seem that the
petroleum supply business would be available to many potential
competitors, there are inherent obstacles that only a strong
financial supplier can overcome. At this time, we appear to have
a solid shot at landing a minimum supply contract for 1,000,000
barrels of crude / month for the next 2 years."
About Our Partner:
Our partner is a privately operated international energy trading
firm focusing on the physical supply of oil and petroleum
products. The company consists of a dynamic team of
professionals, who provide services ranging from sourcing of
crude oil to distribution of oil and petroleum products to
clients worldwide with offices in Cyprus, New Jersey, Florida,
New York, Nigeria and Russia.
The Company and their subsidiaries specialize in producing,
blending, processing and distributing fuel oil and distilleries
around the World. The Company's growth over decades has led to
an expansion to new geographical areas for the purchase and sale
of petroleum products, including Europe, Africa and the Far
East.
Recognizing the growing competition in the energy industry,
the Company & Subsidiaries increased its focus and resources to
the refining of crude oil. Accordingly, we have entered into
joint venture agreements with highly reputable and established
strategic partners for the sourcing of crude oil from areas
including Russia,
South America, Africa and the Middle East. Our crude oil
division concentrates on the sourcing of these products for
further delivery to our designated refineries for processing to
finished goods.
Currently, the company and its subsidiaries are registered to
trade with a long roster of major oil, gas and power companies
as well as refineries, including but not limited to the
following companies, Chevron Corp., TOTSA Total Oil
Trading SA, Statoil, Vitol SA, BP Integrated Supply and Trading,
Reliance Industries Limited, Sonatrach Petroleum Corporation, AO
PetroKazakhstan, Sempra Energy Trading LLC, Koch Supply &
Trading LP, AOT Trading AG, LIA Oil S.A., Hellenic Petroleum
S.A., ERG Raffinerie Mediterranee S.P.A., Bosicor Refinery and
Banias Refinery, to name just a few.
Petroleum supplies are acquired in part through long-term
contracts from the key-producing countries as well as by
traditional short and medium-term purchase agreements. The
Company and its subsidiaries deliver to a variety of customers,
including the major oil companies, government purchasing
agencies and industrial end users.
The Company has established strong relationships through
worldwide business connections and therefore has the ability to
trade in commodities at competitive prices and on a timely and
trustworthy basis.
About Sunergy: The Company is an aggressive junior mining
exploration and development Company that is production oriented
at the earliest possible profitable opportunity. We control 100%
of the 150 SQ. Km. Nyinahin mining concession with a full
prospecting license. The concession is surrounded by several
operating mines and is adjacent to Newmont Mining's property.
This concession has the Offin river flowing through our eastern
portion and there are numerous artisan pits ready for testing
and evaluation for near term production. The Offin river is
known for good alluvial gold production. Artisans usually
recover about 30% of the available gold through primitive hand
methods, leaving 60-70% to be recovered by modern mechanical
operations. The Company is also involved in facilitating
petroleum supplies to Ghana through its affiliation and
strategic alliance with a Global Petroleum Trading and Supply
company and plans to expand its petroleum influence.
Further information is available on the Company's website
http://www.sunergygold.com/
Notice Regarding Forward-Looking Statements
This current report contains "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. 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, including but not limited to,
any mineralization, development or exploration of the Nyinahin
Mining Concession.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated
with mineral exploration and difficulties associated with
obtaining financing on acceptable terms. We are not in control
of metals prices and these could vary to make development
uneconomic. These forward-looking statements are made as of the
date of this news release, and we assume no obligation to update
the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that the
beliefs, plans, expectations and intentions contained in this
press release are reasonable, there can be no assurance that
such beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set
forth herein and should also refer to the risk factors
disclosure outlined in our most recent annual report for our
last fiscal year, our quarterly reports, and other periodic
reports filed from time-to-time with the Securities and Exchange
Commission.
