SOURCE: Aquatic Cellulose International Corp.

April 02, 2007 12:29 ET

AQCI Announces $613,000 Net Gain on Sale of Prado Gas Field

SALMON ARM, BC -- (MARKET WIRE) -- April 2, 2007 -- Aquatic Cellulose International Corp. (PINKSHEETS: AQCI), an energy development and production company, is pleased to report a net gain of $613,000 on the 2006 disposition of its working interests in the Prado Gas Field. Details of this transaction are disclosed in the Company's recent filings with the Securities and Exchange Commission (SEC).

"We realized a significant return on our disposition of Prado," states Sheridan Westgarde, president of AQCI. "More importantly, however, it has enabled us to expand and accelerate our business strategy.

"The disposition has enabled us to increase our investment in the redevelopment of the Hamill Lease, acquire additional properties, reduce our debt and gain proprietary technology that promises to leverage our growth in global markets. We're energized by today's news and I look forward to sharing more news of our success in transforming the company."

About Aquatic Cellulose International Corp.

Aquatic Cellulose International Corp., AQCI (pending name change to Valor Energy) is an energy company engaged in oil and gas development, redevelopment, drilling and production. AQCI has secured interests in the Hamill Lease, a 3,645-acre gas producing property located in South Sargent Field, Matagorda County, Texas. AQCI is focused on the redevelopment of Hamill and other fields with a proven track record of production while also expanding into exploration and development of new properties. AQCI is currently developing next-generation Tiger-Lynk™ technology, a submersible remote manipulator system that performs large-scale underwater operations without diver assistance. For more information, visit www.valorenergy.com.

Contact Information

  • Contacts:
    Aquatic Cellulose International Corp.
    Investor Relations
    (503)-502-5104