Fortune Oil & Gas, Inc.

March 28, 2011 15:30 ET

Fortune Oil & Gas, Inc. (FOGC) New CEO Appointment and Management Update

HENDERSON, NEVADA--(Marketwire - March 28, 2011) - Fortune Oil & Gas, Inc. (PINK SHEETS:FOGC) ( has appointed Serge S. Acimovic as its new president and chief executive officer to take the reins of FOGC and its new Alta Mining Inc. subsidiary.

FOGC announced the finalization of its merger with Alta Mining on March 25, and the company is eager to get down to business and report to its followers. Acimovic brings a wide set of business skills and contacts to his position that will highly benefit the company. FOGC believes that Acimovic's ability to successfully synergize numerous business aspects will help it to quickly move forward and provide it with the needed strength to become a successful junior mining company. FOGC is positive that Acimovic will expand the company's Board of Directors with people who share a similar understanding of the mining industry and have expertise that should establish strong credibility in the industry.

FOGC is looking to further explore and exploit mining ventures and build a diversified portfolio of exploration and development projects with historically proven mining potential that meet the company's development standards. The negotiation process is to the point where the company can say that the upcoming mining season (starting in May 2011) will bring a lot of exploration activities. The new management is bullish on the mining industry and the company's financing is securely in place.

Alta Mining remains dedicated to overseeing cost-effective exploration and development operations on economically viable mineral deposits situated in geopolitically stable, well-known and historically proven mining areas.

In other corporate news, FOGC has completed its subscription agreement with OTC Markets and will soon commence updating OTC Markets with corporate and other relevant data. More updates will follow shortly and frequently.

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