SOURCE: Infinity Energy Resources, Inc.

Infinity Energy Resources, Inc.

November 27, 2013 11:13 ET

Infinity Energy Resources Commences Seismic Survey Activities

Survey Vessel M.V. Viking 1 Arrives in Nicaraguan Waters

OVERLAND PARK, KS--(Marketwired - Nov 27, 2013) - Infinity Energy Resources, Inc. (OTCQB: IFNY), an independent oil and gas exploration and development company, today announced that it has commenced its seismic survey activities with the November 25th departure of the survey vessel M.V. Viking 1 from Panama and its arrival on-site in Nicaraguan waters in the Caribbean Sea earlier today.

"Seismic mapping is scheduled to begin no later than Saturday, November 30th and the acquisition of 2-D seismic should be completed by mid-December," stated Stanton E. Ross, Chief Executive Officer of Infinity Energy Resources, Inc. "Under the terms of our agreement with CGG, a fully integrated Geoscience company that provides geological, geophysical and reservoir services to the global oil and gas industry, the seismic survey will include 2-D and 3-D mapping, processing and interpretation services on our 1.4 million-acre oil and gas concessions."

"Our Geophysical Consultant, Bob Fleming, along with other Infinity representatives, will oversee the seismic activities throughout the mapping phase of the survey," continued Ross. "Bob has over 38 years of experience involving a wide variety of geoscience assignments, most of which were with Sun Oil and its successor companies: Sunmark, Sun E&P, Oryx, Kerr-McGee and Anadarko."

"CGG will 'shoot' approximately 1,050 linear kilometers of 2-D seismic and approximately 500 square kilometers of 3-D seismic focused on at least two high-potential prospects that we have identified along the Nica-Tinkham Ridge beneath the waters of our Tyra and Perlas concessions. We expect initial processing of the 2-D seismic data to be completed by early January 2014, prior to the deadline incorporated into our exploration contract with the Government of Nicaragua," concluded Ross. 

About Infinity Energy Resources, Inc.

Infinity Energy Resources, Inc.'s operations consist of exploration and development activities associated with oil and gas concessions covering approximately 1.4 million acres offshore Nicaragua in the Caribbean Sea.

Infinity is headquartered in Overland Park, Kansas and its common stock is currently traded on the OTCQB under the symbol "IFNY". The Company's financial statements and additional information are available on the Internet at www.sec.gov or www.ifnyoil.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Such forward-looking statements may include the words "believes," "expects," "anticipates," "intends," "estimates," "plans," "projections" or other expressions that are predictions of or indicate future events. A wide variety of factors that may cause the actual results to differ materially from these statements include, but are not limited to, the following: the Company's ability to raise sufficient capital and/or obtain a partner on acceptable terms, or at all, to fund its obligations under its agreement with CGG and pursue exploration and development activities regarding its Nicaraguan Concessions; whether the planned seismic surveys, including the mapping, processing and interpretation services, will occur in the anticipated timeframe and satisfy Infinity's current requirement for 2-D and 3-D mapping under its contract with the Nicaraguan government; the timing and success of its efforts, in concert with CGG, to acquire and process seismic data relating to the Concessions; the quantity of hydrocarbons beneath the Concession blocks; the costs of drilling and completion of any wells; risks that drilling wells will not result in commercially viable oil and natural gas production; operating risks, delays and problems; the availability of services on acceptable terms; changes in the prices of oil and gas; unexpected negative geological variances; governmental uncertainties in Nicaragua; actions by creditors with respect to debt obligations, liquidity and capital requirements; competition from larger, more established companies with far greater economic and human resources; the effect of changing economic conditions; changes in U.S. government regulations, tax rates and similar matters; and other risks described in its Annual Report on Form 10-K for the year ended December 31, 2012 and its Quarterly Report on Form 10-Q for the nine months ended September 30, 2013 filed with the Securities and Exchange Commission. The Company does not undertake to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • For additional information, please contact:

    Stanton E. Ross
    President/CEO
    (913) 948-9512