SOURCE: NuTech Energy Resources, Inc.

May 11, 2016 09:00 ET

NuTech Energy Resources to Accept Buyout Offer

GILLETTE, WY--(Marketwired - May 11, 2016) - NuTech Energy Resources, Inc. (OTC: NERG), a natural gas and oil technology and development company, is pleased to announce that the Company has considered the unsolicited tender offer it received from Techno Invest LTD last week for 2.5 cents per share. After conferring with attorney's and advisors, NuTech's management has decided to accept the offer and proceed with the closing process of the proposed acquisition. Techno is seeking to capture and build on NuTech's patented coalbed methane production technology and take advantage of the company's coalbed methane assets currently in place.

Both corporations are actively consulting with their management teams and advisory boards to map out the next steps to proceed with the acquisition process. All terms have not been disclosed yet for the potential transaction, but the Company intends to update shareholders as developments evolve.

About NuTech Energy Resources, Inc.: Nutech Energy Resources, Inc. (OTC: NERG) is a natural gas and oil technology and development company that has developed a patented technology for the production of coalbed methane (CBM) without the need to pump water. Nutech currently operates wells in the Powder River Basin area of northern Wyoming (through sister company Emerald Operating Company) and has commitments to acquire thousands of additional wells. Nutech Energy Resources, Inc.'s development of proprietary equipment uniquely positions the Company to be able to acquire and profitably operate wells that were previously cost prohibitive. For more information, visit: http://www.nutechenr.com/ or for TechnoInvestment visit: http://tehnoinvest.h1.ru/

Safe Harbor: This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.

Contact Information

  • Contact:
    Investor and Media
    Steffan Dalsgaard
    CEO Everest Corporate Advisors, Inc.
    702-902-2361
    702-982-1339