SOURCE: International Energy Ltd., Inc.

March 16, 2010 14:05 ET

International Energy Ltd., Inc. (OTC: ILGL) Announces a Merger With Standard Oil Company USA, Inc.

TAMPA, FL--(Marketwire - March 16, 2010) - INTERNATIONAL ENERGY LTD., INC. (PINKSHEETS: ILGL) is proud to announce that effective immediately, International Energy has merged with STANDARD OIL COMPANY USA, INC. of Dallas, Texas. The new corporate name will become Standard Oil Company USA, Inc. with corporate offices located at 5430 Linden B. Johnson, Suite 1200, Dallas, TX 75240.

Norman Buenaflor, International Energy's President, CEO and Chairman is quoted as saying, "I would like to take this opportunity to express my excitement with the merger we now have contractually finalized with Standard Oil Company USA. As Chairman and CEO of International Energy, it is my absolute duty to seek out and capitalize on opportunities which will grow shareholder value. I believe we have accomplished this exact task with this merger." Mr. Buenaflor goes on to say, "With this merger, I will be resigning, effective immediately, as the Chairman, President and CEO of International Energy as it transitions to become Standard Oil Company USA. I can assure you, the shareholders, that the new officers and directors of now Standard Oil Company USA are very accomplished people in their own fields and bring this experience in the Oil and Gas Industry. The new Chairman is Mr. Ronald Brooks and leading the Management Team will be the new CEO, Mr. Jim McCormick. I am very confident in their ability to bring now Standard Oil Company USA to an entirely new level."

Mr. Jim McCormick, Standard Oil Company's Director and CEO is quoted as saying, "We appreciate this opportunity together with International Energy to move forward as one new company with many domestic and international oil and gas lease development opportunities already under contract. I, like Mr. Buenaflor, take seriously my fiduciary task of creating not only corporate profits but shareholder value."

With this merger, International Energy Ltd., Inc. will seek out a slightly new direction in the oil and gas sector. International Energy Ltd., Inc./ Standard Oil Company USA, now with its newly merged network of buyers and sellers around the world and its new staff of seasoned oil and gas trading professionals, attorneys and CPAs, will help facilitate the ease of process between buyers and sellers of actual, tangible allocations and lease development.

About Standard Oil Company USA, Inc.

About Us Statement: Standard Oil Company USA (PINKSHEETS: ILGL) is a leading independent energy company headquartered in Dallas, Texas and focused on oil and gas drilling, lease development and trading. International Energy Ltd., Inc., through its global network of buyers and sellers, along with its staff of seasoned oil, gas, refined fuels, trading professionals, drilling crews, engineers, attorneys and CPAs, will help facilitate the ease of transaction between buyers and sellers of actual, tangible oil and gas leases refined fuels allocations. Together with this, Standard Oil Company USA continues to search to acquire new oil and gas lease properties for exploration and future development both domestically here in the USA as well as internationally.

For more information visit our website at:

The company is already working on drilling projects domestically and soon will begin internationally.

Forward Looking Statements

This news release contains forward-looking statements made by STANDARD OIL COMPANY USA, INC. / INTERNATIONAL ENERGY LTD., INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.

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