Sunergy Strikes Strategic Alliance With Global Petroleum Trader and Supplier for Petroleum Sales in Ghana, West Africa
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
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
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
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.