SOURCE: Lighthouse Petroleum, Inc.

January 28, 2011 14:06 ET

Lighthouse Petroleum, Inc. CEO Clarifies Recent Press Release

DALLAS, TX--(Marketwire - January 28, 2011) - (PINKSHEETS: LHPT) Lighthouse Petroleum, Inc., www.lighthouselhpt.com, CEO Glen Kennedy hopes to clarify any confusion resulting from the Company's most recent press release. Lighthouse is not at this time planning a reverse stock split but management is reviewing a plan to reduce the Company's franchise tax liability to the State of Delaware by reducing its authorized number of shares and lowering the par value on the common stock. Both issues will have to be approved at our next annual shareholders meeting.

About Lighthouse Petroleum

Lighthouse Petroleum, Inc. is a developing oil and gas company. Lighthouse's business plan centers on acquiring abandoned wells and land leases believed to still have sustainable development opportunities initially focusing on the Permian Basin and Arch- Fort Worth Basin. Management believes the use of modern technology will enable the company to reduce its risk in the initial phase of development and open up new opportunities. Management plans to create a base cash flow from reentering these wells and establishing a network to acquire additional land assets in the targeted areas. Lighthouse's first project is in Brown County, Texas. Lighthouse Petroleum, Inc. is based in Dallas, Texas and trades on the OTC markets under the symbol "LHPT."

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.

Contact Information

  • Contact

    Glen Kennedy
    CEO
    Lighthouse Petroleum, Inc.
    1-972-342-2525
    Email Contact