SOURCE: Georgetown Corporation

Georgetown Corporation

June 21, 2012 08:43 ET

Georgetown Corp. Subsidiary, Synergy Oil Tool and Supply LLC, Is Awarded a $100,000.00 Contract and Announces the Appointment of Gary Haub as President of Synergy Oil Tool & Supply

OKLAHOMA CITY, OK--(Marketwire - Jun 21, 2012) - Georgetown Corporation (OTCBB: GTCP) is pleased to announce that, through its wholly-owned subsidiary Synergy Oil Tool & Supply LLC, it has completed its first sale of approximately $100,000.00 of oil field products.

The first sale consists of joints of used Double-White Band Drill Pipe, as well as Hexagonal Kelly Drive Bushings Rollers, which are all products used in the drilling of oil & gas wells. Synergy is in the business of providing drill pipe, handling tools and related equipment (everything "from the crown to the ground") to oil & gas drilling contractors.

The Company also appoints Gary Haub as President of Synergy.

Mr. Haub commented, "This first sale is a significant achievement for Synergy so early in its existence. The fact that this sale happened so quickly after the formation of our company is a testament to the strong relationships of our management and executive team."

Mr. Haub will be responsible for direction of day-to-day operations of Synergy, as well as creating and strengthening relationships with companies in the oil and gas drilling industry.

Carl Swan, CEO of Georgetown Corp., stated: "We are thrilled to welcome Mr. Haub as the President of Synergy Oil Tool & Supply.

"Mr. Haub's influence and presence in the midwest area will no doubt enable our company to strengthen its operations and infrastructure. He is an accomplished entrepreneur who has been involved in the oil and gas sector for the past 25 years. Mr. Haub is highly respected throughout the oil and gas industry. We share his principles of integrity, hard work and social giving. We are confident that Synergy will benefit from his guidance and contribution as we continue to grow our management team and add shareholder value."

Incoming President of Synergy, Mr. Haub, commented: "Georgetown has an experienced board of directors which will assist the company with its growth and development strategy. It is a very exciting time to be part of this organization as the President and I am honored to join the Company's talented and committed team of professionals."

Mr. Haub has had several years of experience in the horizontal directional drilling construction and oilfield tooling industry. He began his career as Products Manager at GEFCO, a designer and manufacturer of portable drilling rigs and related equipment based in Oklahoma. That experience, and his entrepreneurial spirit, led him to establish Drill Tube International in 1996, and he served as Vice President of Operations of that company. Two years later, Drill Tube International was acquired by Grant Prideco (www.grantprideco.com), and Mr. Haub remained with that company for the next seven years. Subsequently, Mr. Haub was the Co-Owner of HDD Rotary and served as its President. At HDD Rotary, he was responsible for both overseeing the day-to-day operations of the company and strategic planning for its long-term development.

About Georgetown Corp.

Georgetown is an exploration or exploratory stage company involved in the examination and investigation of land that may contain valuable minerals. The Company plans to continue its growth organically, search for new acquisitions, and expand geographically. Through its subsidiary, it provides oilfield services and equipment to independent and major oilfield companies in exploration, production and development of oil and gas properties, domestically and in selected international markets.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated production. Actual results could differ from those projected in any forward-looking statements due to numerous factors including, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.

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