SOURCE: NuTech Energy Resources, Inc.

May 12, 2016 09:00 ET

NuTech Energy Resources Update on TechnoInvest Buyout Offer

GILLETTE, WY--(Marketwired - May 12, 2016) - NuTech Energy Resources, Inc. (OTC: NERG) has received information directly from TechnoInvest Oil and Gas giving clarification regarding the proposed buyout of NuTech's common shares. According to NuTech, TechnoInvest has advised CEO Kevin Trizna that a detailed proposal with agreed upon terms will be transmitted to the company early next week. The Company expects to receive the proposal in electronic format as well as a hard copy to follow via courier service early next week.

As stated before, both corporations are actively consulting with their management teams and advisory boards to map out the next steps to proceed with the acquisition process. The Company has no definitive time frame for a formal response to the TechnoInvest's closing package, but intends on turning it around as soon as possible with the intention of closing the earliest possible date.

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