Houston, TX, August 30, 2012 --(PR.com
)-- This week in Kathmandu, Nepal, Gary Bergholtz, Sr., CEO of BBB Champions Oil Company, Inc. will formally meet with officials of the Nepalese government and the Nepalese Department of Mines and Geology to be awarded a license to explore for oil and gas in Nepal’s Block 10 (Biratnagar) a 4969 sq km area in Southern Nepal.
The decision to award Block 10 to BBB Champions Oil was made by the Nepalese government in July of 2012 and finalized this week. The awarding of Block 10 grants a four year survey license which may be extended twice by additional two year increments. BBB Champions has agreed to submit a work plan to the Department of Mines and Geology within the next two months.
While Nepal is not yet an oil producing country, there is a strong belief in the existence of petroleum resources in Nepal supported by seismic data, numerous oil and gas seeps, and a geological environment similar to the neighboring oil producing countries of India and Pakistan.
BBB Champions Oil Company, Inc. is an independent oil and gas company headquartered in Houston, TX. We are engaged primarily in the exploration, development, production, and sale of natural gas and crude oil. Our core areas of operation are the countries of the Middle East and recently Central Asia. We also have an ownership interest in a construction company, providing the benefit of priority access to equipment and manpower necessary to get new projects up and running as quickly as possible. For more information, please visit our website at http://www.champions-oil.com.
This news release contains forward-looking statements concerning the possibility of a significant new resource base. These forward-looking statements may be affected by a number of factors or are based on a number of assumptions including, among others, pricing, supply and demand for petroleum products, amount of capital available for exploration and development, regulatory constraints, timing of commencing production from new wells, drilling rig availability, unforeseen hazards such as weather conditions, acts of war or terrorist acts and the government or military response thereto, and other geological, operating and economic considerations.
Media Relations Contact: Investor Relations Contact:
Jerry Dilliard Gary Bergholtz, Sr.
Executive Vice President Chief Executive Officer