SOURCE: Middle East Oil Corp.

January 19, 2010 13:17 ET

Middle East Oil Corp. Receives FINRA Approval for Reverse Stock Split and Name Change

SALT LAKE CITY, UT--(Marketwire - January 19, 2010) - Middle East Oil Corp. (PINKSHEETS: MIDH), an oil and gas development and exploration company, received approval by FINRA on January 7, 2010 for the corporate name change to Middle East Oil Corp. and a 1000 to 1 reverse stock split of the common shares of the company. The effective date of the reverse stock split of the common shares of the company was January 8, 2010.

The shareholders of the common shares of the previous company Madison Bay Holdings are requested to submit their old shares to the transfer agent for the company for reissuance, which will reflect the reverse stock split and name change at Holiday Stock Transfers, 2939 N 67th Place, Scottsdale, Arizona, 85215.

About Middle East Oil Corp.

Middle East Oil Corp. is an oil and gas exploration and development company concentrating on the exploration, development and refinery of oil and gas in the Middle East.

Middle East Oil Chairman and CEO Ricardo Ruelos commented: "I am very pleased receive the approval by FINRA. This provides a new foundation and clear path for our future business plans with Middle East Oil Corporation."

Safe Harbor statement under the private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.

Contact Information

  • Contact:
    Marge Rohr
    Phone (909) 860-0941