SOURCE: Middle East Oil Corp.

October 01, 2010 14:33 ET

Middle East Oil Corp. Enters Into an Agreement With Geo Dynamics Research

Muhammad Asif Appointed to the Board of Directors

SALT LAKE CITY, UT--(Marketwire - October 1, 2010) -  Middle East Oil Corp. (PINKSHEETS: MIDH), an oil and gas development and exploration company, announces that a joint agreement has been reached with Geo Dynamics Research S.R.L.

Muhammad Z. Asif, the chief financial officer of the company, has been appointed to the Board of Directors of the company replacing Dr. Karim Akrawi. Dr. Akrawi will remain as an advisor to the company. The Board also announces that Ricardo Ruelos will also be serving as a member of the board replacing Abdulkadir Al Nakib. Mr. Ricardo Ruelos had been serving as the company CEO and will bring his past expertise as a director and officer in the public sector, he will bring these years of knowledge and experience to this position. Mr. Al Nakib will also continue to act as a consultant to MIDH.

The agreement with Geo Dynamics will provide technical support in the area of passive seismic activities in the exploration and development of oil and gas projects for the company. 

About Geo Dynamics

Geo Dynamics Research headquartered in Rovereto (TN), Italy. The Company is a global provider of scientific research and technical development of passive monitoring technologies.

Geo Dynamics has developed and patented an "Infrasonic Passive Differential Spectroscopy" (IPDS®), a less invasive technology for detecting, monitoring and identifying hydrocarbon reservoirs (oil, gas and, water). Geospectra IPDS® technology is one of the most advanced methods available in exploration and monitoring within the oil and gas industry. (

Middle East Oil Corp. will incorporate the Geo Dynamic technologies for sourcing hydrocarbon potential and the calculation of reserves for accuracy and development strategies. 

Muhammad Z. Asif, Chief Financial Officer and Director 

Mr. Asif graduated from the American University with a master's degree in finance. He is also a graduate of The Institute of Cost and Management Accountancy in Pakistan. 

Muhammad Z. Asif was the Chief Financial Officer of Al Zorah Development Company Ltd, a sixty billion joint venture real estate development partner with the Government of Ajman, United Arab Republic, and Solidere an international real estate developer in Lebanon. 

He has garnered more than 25 years of experience with International financial institutions, manufacturing, and trading organizations. Mr. Asif was the General Manager of Finance and Administration and Head of Logistics for Kodak and Spinney's a multinational franchise holders.

Mr. Asif has been associated with the World Bank as General Manager of Finance and Accounts. In addition, he was the Vice President of Finance and Administration for various automotive franchise agencies (Toyota, Rover, Land Rover and Jaguar) in the Kingdom of Saudi Arabia.

The president of the Company, Mr. Miloud Bekoucha, stated: "The agreement with Geo Dynamics will enhance our activities by providing a more effective approach in the exploration and monitoring of our oil and gas fields in terms of reduced costs and increased profit margins." 

About Middle East Oil Corp.

Middle East Oil Corp. is an oil and gas exploration and development company concentrating on the exploration, development and refinery of oil and gas in the Middle East. (web site located at

Safe Harbor statement under the private Securities Litigation Reform Act of 1995

This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.

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