SOURCE: Palisades Petroleum

November 30, 2011 14:16 ET

Palisades Petroleum's (PAPT: Pinksheets) Chairman, Makusha Gozo, Announces the Establishment of Significant Competitive Advantages and That It Is in Merger Negotiations With Strat Petroleum Limited

BALTIMORE, MD--(Marketwire - Nov 30, 2011) - Palisades Petroleum (PINKSHEETS: PAPT) Chairman Makusha Gozo has completed agreements with the first of three leading West African cocoa producing nations' cocoa boards via its intermediary entities including Durst Fund LLC. The agreements in each respective nation of Ivory Coast, Ghana and Nigeria, with Cameroon soon to follow, will give Palisades Petroleum,, priority access to stored cocoa in the event that conditions cause a shortage of this commodity such as adverse weather. As such, when prices rise sharply, Palisades Petroleum will not only be able to maintain its market share and industry-leading, superior customer service, but will have the capability with which to gain new market share by guaranteeing supply in addition to being able to offer competitive prices.

Palisades Petroleum's oil and gas division is looking to expand its investment acquisition base to include opportunities in Russia and former CIS countries. To meet this objective, Palisades has been in merger negotiations with Strat Petroleum Ltd.,, to participate in oil and gas recovery projects that Strat has secured the rights to. Palisades believes in the opportunities that Strat offers and sees a very positive future in generating revenues and increasing shareholder value from these projects.

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