SOURCE: NRG Resources

February 09, 2006 11:00 ET

NRG Resources Mourns the Loss of Yedil Kassymov

SANTA ANA, CA -- (MARKET WIRE) -- February 9, 2006 -- Yedil Kassymov, board member and geologist for NRG Resources, Inc. (OTC: NRRI), passed away January 10 in Kazakhstan after suffering a sudden heart attack.

Mr. Kassymov is remembered fondly by NRG employees and associates worldwide as a humble, well-spoken man and extremely talented geologist. He was formerly employed in senior geologist positions by the Government of Kazakhstan and the private sector. During his distinguished career Mr. Kassymov was involved with exploration teams that discovered some of the largest gas and oil reserves in Kazakhstan.

The NRG Board extends its deep condolences to the Kassymov family. NRG intends to nominate a board member to replace Mr. Kassymov in the near future.

About NRG Resources, Inc.

Orange County, California-based NRG Resources, Inc. is an oil and gas exploration and oil products marketing company. The Company also markets a proprietary line of lubricants for industrial and commercial applications. For more information, please visit the Company's website at www.nrgresourcesinc.com or send an email to info@nrglc.com

This announcement contains forward-looking statements, which can be identified by the use of forward-looking terminology such as "may," "expect," "anticipate," "estimate," "continue," "believe," "plan," "hope," "intend," or other similar words. We have made forward-looking statements with respect to the following, among others: our goals and strategies; our ability to earn sufficient revenues to operate and retain the human resources that we have recruited or are in the process of recruiting; our ability to continue to operate and/or develop our existing lubricants business; our ability to continue as a going concern. These statements are forward-looking and reflect our current expectations. These forward-looking statements are subject to a number of risks and uncertainties, some of which are beyond our control. Forward-looking statements in this announcement are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although NRG Resources, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Investors are cautioned that all forward-looking statements involve high risks and uncertainty, including without limitation, our limited operating history, the costs and risks of exploring and developing new oil and natural gas reserves, the price for which such reserves can be sold, environmental concerns effecting the drilling of oil and natural gas wells, fluctuations in commodity prices, inconsistent application, interpretation, and enforcement of applicable Kazakh government taxes, and Kazakhstan Excess Profits Tax, currency exchange losses if Tenge depreciates against US Dollar, country and political risks, including diplomatic and political relations between US and Kazakhstan, costs arising from environmental liability, uncertain costs of drilling (oil producing fields located adjacent to Kokaral, are not an indication that our drilling or related efforts will be successful), inability to drill wells that produce commercial quantities of oil and natural gas, shut-ins of connected wells resulting from extreme weather conditions, insufficient storage or transportation capacity or other geological and mechanical conditions, general market conditions, competition, oil and gas pricing, drilling programs and results, our continued operations of our lubricant business, our future capital needs, our ability to retain qualified management and consultants, etc.

Contact Information

  • Contacts:

    NRG Resources, Inc.
    Hep "Alex" Trinh
    Vice President, Business Development
    714-689-9100
    Or
    Friedland Corporate Investor Services LLC
    Jesse Blum
    303-468-1287