SOURCE: Arcland Energy Corporation

October 22, 2008 13:56 ET

Arcland Energy Corporation Announces Effectiveness of Reverse Split, Symbol Change and Corporate Update

DALLAS, TX--(Marketwire - October 22, 2008) - Arcland Energy Corporation (OTCBB: ACLY) ("Arcland" or the "Company"), an independent oil and gas company, is pleased to announce that its 1 for 10 reverse stock split became effective on October 14, 2008 upon filing of Articles of Amendment to its Articles of Incorporation with the Utah Department of Commerce. Arcland's shares began trading on a split-adjusted basis on the OTC Bulletin Board effective October 20, 2008 under the new symbol "ACLY.OB," which replaces the previous symbol "ACLE.OB." Management believes that the reverse stock split will likely position the Company's stock in a price range that is more attractive to institutional investors.

As part of the Company's Strategic Plan, Arcland plans to continue focusing on acquisitions in the West Texas area, an emphasis that will contribute to the near-term goal to achieve higher production levels and more proven reserves. The focus of Arcland's present activities is the successful development of its Texas assets. Management also plans to investigate other upstream oil and gas opportunities that fit the Company's investment criteria emphasizing enhancement of asset portfolio and shareholder value by originating, developing and managing balanced, low risk and highly focused developmental drilling projects in areas with low drilling costs and high success rates.

Headquartered in Dallas, Texas, Arcland Energy Corporation is a publicly traded company (OTCBB: ACLY) in oil and gas exploration, exploitation and production, focused on the domestic onshore basins of the Gulf Coast, West Texas and Mid-Continent regions, which holds operating acreage in the North West Texas area. Arcland Energy plans to invest its capital to enhance and extend existing conventional and unconventional hydro-carbon plays and to participate in emerging unconventional resource trends. The Company's primary goal is to increase the value of acquired properties through increasing production and proven reserves in a short amount of time.

Forward-Looking Statements: With the exception of historical information contained in this press release, this press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to, the effect of economic conditions, the impact of competition, and the results of financing efforts. The words "plans to," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.

2008 Arcland Energy Corporation. The information herein is subject to change without notice. Arcland Energy Corporation shall not be liable for technical or editorial errors or omissions contained herein.

Contact Information

  • CONTACT:
    Vitae Investor Relations
    Carisa Newsom
    Email Contact
    214.484.9333