SOURCE: Czech Republic Resource Corp.

May 21, 2010 08:00 ET

Czech Republic Resource Corp. Signed Letter of Intent

NEW YORK, NY--(Marketwire - May 21, 2010) -  Czech Republic Resource Corp. (PINKSHEETS: CZHC), an energy company engaged in the acquisition, exploration, and development of properties for production of crude oil and natural gas is proud to announce today it has signed a Letter of Intent.

Czech Republic Resource Corp. has signed a Letter of Intent with JEDI Energy Partners, LLC. We are extremely happy to be working towards the same common goals. JEDI has spent much of the last year researching and doing extensive due diligence in Angelina County Texas, which is East Texas just south of Lufkin, where the company has recognized several locations to drill and be productive. JEDI used Hydrocarbon Imaging Surveys alone with seismic and past well logs to determine hot spots on the leases. CZHC and JEDI have been in talks about a property to drill on that the Hydrocarbon Imaging Survey has a proved probable of 1.36 million barrels of recoverable reserves. CZHC and JEDI hope to finalize the JV Agreement and get started as soon as possible.

To Learn More About Czech Republic Resource Corp., Please Visit: http://www.czechresource-ir.com/.

This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.

Contact Information

  • Contact:
    Jara Meger
    +420.220.571.134