SOURCE: Gulf Onshore, Inc.

June 30, 2008 07:00 ET

Gulf OnShore, Inc. Announces Strong Growth -- as Reported by

Oil Output on Pace to Rise 300% by Year End

DALLAS, TX--(Marketwire - June 30, 2008) - Gulf OnShore, Inc. (OTCBB: GFON) is pleased to announce CEO Dean Elliot has been featured in an interview on

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As reported by, Mr. Elliot stated, "Continued high oil prices will provide our company with significant revenue. Currently, Gulf OnShore has 80-plus wells spanning over 3,200 acres. The company is now on pace to produce 100 barrels of oil per day by year end. We have also acquired a new lease which is anticipated to provide a significant upside by the 2nd quarter of 2009."

Mr. Elliot further stated, "Initial log reports indicate total reserves on our leases of 1.5 million barrels of oil and 200 million cubic feet of gas. Based on our current rate of growth, we will continue to seek additional acquisitions which complement our core areas of interest. Our outlook for year ending 2008 and 2009 is strong."

About Gulf Onshore, Inc.

Gulf Onshore, Inc. is an oil and gas company with a focus on oil and gas prospects and properties which require further development. Gulf is careful to develop a thorough drilling plan using advanced technologies in both mapping and the use of 3D seismic reports and information. Gulf trades under the ticker symbol GFON.BB on the OTCBB.

This Press Release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words "expects," "intends," "projects," "plans," or similar phrases may be deemed "forward-looking statements." Although Gulf Onshore, Inc. believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors.

Contact Information

  • Contact:

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    Angie Junell
    (903) 386-9943