SOURCE: Corestream

February 25, 2011 09:28 ET

CoreStream Energy Inc. to Launch Energy Trading Subsidiary

FOUNTAIN VALLEY, CA--(Marketwire - February 25, 2011) -  CoreStream Energy, Inc. (PINKSHEETS: ZLUS) is pleased to announce that it will begin operating CoreStream Energy Trading Inc. effectively March 1, 2011. The energy trading unit will focus primarily on the liquid markets -- Brent Blend/Forties/Oseberg ("BFO"), West Texas Intermediate (WTI), and Dubai/Oman crudes -- and refined oil products such as heating oil and gasoline. Trading will be conducted on the New York Mercantile Exchange (NYMEX), a division of the CME, ICE Futures Europe (ICE), the Dubai Mercantile Exchange (DME), and other exchanges, as well as in the over-the-counter physical swaps and options markets. CoreStream anticipates its main counterparties will be major oil companies, financial institutions, and large trading companies. The subsidiary will also trade natural gas, other energy commodities, and securities.

The new subsidiary will be organized, staffed, and managed by Milton C. Ault, III. Mr. Ault brings over twenty-two years' experience in various aspects of the Oil and Gas Industry including capital formation, finance and trading. In 1996, while at Prudential Securities, he actively traded oil and gas futures, securities and invested in energy related companies. As the founder and manager of two domestic hedge funds, Mr. Ault directly invested fund capital in several oil and gas ventures, including Plains All American, Plains All American Pipeline, LP, and Sheridan Energy. "Given our backgrounds and contacts it only made sense that we would open an energy trading unit," said Mr. Ault. "The demand is huge and growing and the opportunities immense."

The trading unit will add to revenues to CoreStream Energy in the second quarter of 2011, and is expect to grow at a controlled deliberate pace consistent with its growth in capital.

About CoreStream Energy, Inc.

CoreStream Energy, Inc., a Nevada Corporation based in Fountain Valley, CA is an independent energy company engaged in the acquisition, development, exploitation and production of crude oil and natural gas from onshore conventional properties in Texas, Louisiana, Oklahoma and Mississippi and the Midwest. It currently trades on the OTC Markets as ZLUS.PK with a symbol change expected soon from FINRA.

This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission ("SEC"). Such statements include those concerning CoreStream Energy, Inc.'s strategic plans, expectations and objectives for future operations. All statements included in this press release that address activities, events or developments that CoreStream expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions CoreStream made based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond CoreStream's control. Statements regarding future production, revenue and cash flow are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, commodity price changes, inflation or lack of availability of goods and services, environmental risks, drilling risks and regulatory changes and the potential lack of capital resources. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.

Contact Information

  • Contact Info:
    CoreStream Energy, Inc.
    (714) 418-1700

    Gary Patterson
    Investor Relations
    IR@CoreStreamEnergy.com
    (714) 369-2933