Message #13 From:
NewsBot Date: March 18, 2006 09:18:25 PM
SNRG, Stock Message Board, Quote, News, DD
SNRG Completes Reorganization and Structures Income FundsSNRG Corporation (OTCBB:SNRG message board, news, dd, quote) is pleased to advise that the Company has completed the Corporate reorganization commenced in November 2004. The significant events of this turnaround include the projection of a modest profit for 2005 compared to a $3.5 million loss for 2004, recapitalization of the Company including the elimination of all significant debt, reconfiguration of existing assets, establishment of an in-house Texas registered Operating Company and design of a new business model.
The Company will reposition its assets in an oil and gas asset management model with the establishment of special purpose entities that will hold baskets of assets matched with pools of capital in various risk/return configurations. This model will facilitate the earning of asset management fees and participation income with a minimum of dilution and debt.
"The Company business model addresses the concern of many investors regarding the security of their capital," stated Mr. Fimrite. "The Company will deliver income streams to investors in a risk-mitigated structure."
The three special purpose entities/funds created by the Company as follows:
SNRG Fixed Income Fund I, LLC; SNRG Participating Income Fund I, LLC, and SNRG Drilling Services Fund I, LLC.
For additional information, please visit our Web site at: www.SNRG.net. Please note the corporate address and contact numbers below.
Corporate Offices:
14300 N Northsight Blvd, Ste 227
Scottsdale, AZ, 85260
Tel: 480-991-2040
Fax: 480-991-2203
Forward-Looking Statements: This news release 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. Such forward-looking statements include, among other things, the final determination of net income for the year ending December 31, 2005, the ability to reconfigure our current assets into an income fund and the successful completion and funding of the proposed SNRG investment LLC's. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the possible incompletion of our intended income fund entities and the inability or unwillingness of investors to fund the entities in a timely manner if at all. 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 those 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 annual report on Form 10-KSB for the 2004 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SNRG Corporation
Investor Relations:
Jim Elbert, 888-388-8989
