SOURCE: Xtreme Oil and Gas

February 16, 2010 08:00 ET

Xtreme Oil and Gas, Inc. Completes Form 10 Filing

PLANO, TX--(Marketwire - February 16, 2010) - Xtreme Oil and Gas, Inc. (PINKSHEETS: XTOG) announced today the Company has filed the Form 10 with the Securities and Exchange Commission (SEC). Form 10 will register Xtreme's common stock and is a critical step towards becoming a fully reporting company and trading on a U.S. exchange. Information typically included on SEC Form 10 includes the type of security being registered, audited financial information, and information about the Company's history and strategies. It is intended to help investors and analysts understand the investment potential and risks associated with the Company.

Will McAndrew, CEO and President, commented, "Xtreme is excited to be taking this critical step for our shareholders. Our expanding asset base and continued oil and gas production leave us well positioned for continued growth in the future." 

Xtreme Oil and Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations producing commercial quantities of oil and gas from properties it owns and operates in Texas and Oklahoma.

The Company's strategy is to increase value by profitably growing their reserves and production, developing existing properties, exploiting undeveloped properties, and completing strategic acquisitions that provide for America's energy needs.

Notice Regarding Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including without limitation those statements regarding the ability of Xtreme Oil and Gas, Inc. ("Xtreme" or the "Company") to successfully drill any wells or proceed with the commercial production of its properties or that it will be able to exploit, develop, acquire, finance, operate, or make profitable, any of the commercial opportunities discussed or described herein. These forward-looking statements are not historical facts and can be identified by the use of forward-looking words or phraseology such as "believes," "expects," "may," "intends," "anticipates," "plans," "estimates," and analogous or similar other expressions intended to identify such forward-looking statements. Actual results could differ materially from those reflected in such forward-looking statements. Xtreme and its principals will not assume any obligation to update any of the forward-looking statements to reflect any events, facts, or circumstances that may arise other than as may be required by applicable law or regulation.

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