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AMERIGO ENERGY SHAREHOLDER UPDATE
MANAGEMENT EVALUATING POSSIBLE MERGER OR ACQUISITION CANDIDATES
PRESS RELEASE Source: Amerigo Energy, Inc. On Monday March 7, 2011, 6:00 am EST
HENDERSON, Nev., March 7, 2011 /PRNewswire/ -- Amerigo Energy, Inc. ("The
Company") (OTC Bulletin Board:AGOE.ob - News) provided the following brief
update for its shareholders.
Due to the dismal performance from the company's oil and gas properties,
Amerigo's management is currently evaluating multiple opportunities to increase
shareholder value. The potential merger and/or acquisition candidates are from
industries outside of the energy sector.
Jason Griffith, Amerigo Energy's Chief Executive Officer, stated: "With our
Oklahoma and Texas properties underperforming, we feel that the timing is
critical to infuse additional asset value to the company to benefit our
shareholders. Of paramount importance to me is to assure that we have no
intention to recapitalize the company through a reverse split. I am committed
to protect the current investors from any transaction that would further
restrict liquidity or investment performance."
While the company is performing due diligence on possible partners, we are not
yet at the stage that a letter of intent or contract is warranted. Further
developments will be announced as the situation changes.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995 Statements in this press release relating to plans, strategies, economic
performance and trends, projections of results of specific activities or
investments, and other statements that are not descriptions of historical facts
may be forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward- looking
information is inherently subject to risks and uncertainties, and actual
results could differ materially from those currently anticipated due to a
number of factors, which include, but are not limited to, risk factors inherent
in doing business. Forward-looking statements may be identified by terms such
as "may," "will," "should," "could," "expects," "plans," "intends,"
"anticipates," "believes," "estimates," "predicts," "forecasts," "potential,"
or "continue," or similar terms or the negative of these terms. Although we
believe that the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity, performance
or achievements. The company has no obligation to update these forward- looking
statements.
For more information please contact:
Jason Griffith
702-399-9777
