PLANO, TX, June 3, 2013 /PRNewswire/ - Santa Fe Petroleum,
Inc. (OTCBB: SFPI) announced today that the management team
continues to work diligently towards achieving its business plan to
move from an exploration stage oil and gas company to a producing
entity. Thus, the Company's current primary focus is the
acquisition of producing oil & gas properties with additional
drilling acreage to increase the Companies revenue income and asset
base.
According to Tom Griffin, CEO and
Chairman of the Board of Santa Fe
Petroleum, Inc., "We remain focused on securing capital to utilize
for deploying across our system, generating strong returns and
delivering the positive results our shareholders expect. We
look forward to achieving solid production and long term reserves
with our existing leases. However, our current primary focus is the
acquisition of existing oil producing projects with substantial
additional acreage for ongoing drilling, thus additional possible
production revenue for the Company. We believe that the income
from the acquisitions along with successfully drilled projects will
become a spring board for additional larger production
acquisitions, thus ongoing income growth and the expansion of our
asset base."
Santa Fe has always maintained
a policy of stringent guidelines for the selection of its drilling
projects to reduce the risk as much as possible, although there is
no guarantee of a 100% success rate; Santa Fe's commitment to its stock holders is
to maintain the highest possible standards for the selection of its
projects.
The Company recently filed it first quarter financial report for
2013, its 10-Q, thus maintaining timely filing of all its reporting
procedures as is the Company's policy.
About Santa Fe Petroleum Inc.:
Santa Fe's Management has over 50
years of combined oil and gas development and production experience
and plans the acquisition of production projects as well as
bringing its current leases into production as soon as
possible.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy securities in any jurisdiction.
Safe Harbor
This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements contained in this release that are not historical facts
may be deemed to be forward-looking statements. Investors are
cautioned that forward-looking statements are inherently uncertain.
Actual performance and results may differ materially from that
projected or suggested herein due to certain risks and
uncertainties including, without limitation, ability to obtain
financing and regulatory and shareholder approvals for anticipated
actions.
SOURCE Santa Fe Petroleum, Inc.
