SOURCE: Eldorado Exploration, Inc.

Eldorado Exploration, Inc.

August 13, 2009 09:30 ET

Eldorado Exploration, Inc. Announces Private Placement Offering

IRVINE, CA--(Marketwire - August 13, 2009) - Eldorado Exploration, Inc. (PINKSHEETS: EDEP) (PINKSHEETS: EDEX) announced today that the company has initiated a private placement of stock to fund up to $1,000,000.00 for operating and exploration costs.

To position the company for this capital raise, the company obtained majority shareholder approval to reverse the stock 50 to 1. Eldorado Exploration has been advised that FINRA has received the necessary documentation to process the Reverse Stock Split. The action will take effect at the open of business 8/13/09 and the new symbol will be EDEP. The company previously traded on Pinksheets symbol: EDEX. As of 8/13/09, 10,000,000 shares of common stock are now issued and outstanding.

This corporate action enables the company to continue as a viable oil and gas exploration company until new production can be established.

Eldorado Exploration, Inc. is an independent oil and gas exploration company that utilizes a technology called Passive Induced Polarization 'PIP' to detect electrostatic signals given off some geological anomalies. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas.

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, uncertainty of future revenue and profitability, and fluctuations in its quarterly operating results. Please also be advised that Eldorado Exploration is a non-reporting Pink Sheets company and is not required to be registered with the Securities and Exchange Commission.

For additional information about Eldorado Exploration, please visit www.eldoradoexploration.com or e-mail eldoex@yahoo.com.

Contact Information

  • Contact:
    David T. Laurance
    Phone: 949.916.0680