SOURCE: Petrolium Oil Alliance

November 12, 2008 08:35 ET

Petrolium Oil Alliance Inc. Buys Controlling Interest in CybeRecord Inc.

DUBAI, UNITED ARAB EMIRATES--(Marketwire - November 12, 2008) - Petrolium Oil Alliance Inc., regional Dubai office, announced that on July 09, 2008 the company has purchased the controlling interest in the amount of 100,000,000 million restricted shares of common stock in CybeRecord, Inc. (PINKSHEETS: CYRD), a Delaware corporation. On August 27, 2008 a name change was filed with the Delaware Secretary of State changing CybeRecord, Inc., name to PetrOil Inc. On September 04, 2008 a new CUSIP #: 71649V 109 was issued and the company now awaits its new Trading Symbol.

Petrolium Oil Alliance Inc. acquired CybeRecord Inc. in order to bridge the US markets with its marketing conduit for its Middle Eastern and African projects. Executive Vice President of Middle East and African Affairs Mr. Farouq Kamel Al Azzeh states, "Now that the transaction is complete, the company may further pursue the African and Middle Eastern markets and expand on the undeveloped African Markets."

PetrOil Inc. has no plans to raise the authorized capital of the company or issue additional shares. The company's goal is to update the financial records and comply with Pink Sheet disclosures. The company is in the process of launching a new website and will keep shareholders apprised of major announcements and developments.

About Petrolium Oil Alliance Inc: Petrolium Oil Alliance Inc. is an IBC with its representation office in Dubai, U.A.E. specializing in oil distribution and other related petroleum, gas and energy industries.

Legal Notice Regarding Forward-Looking Statements:

Safe Harbor: This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Petrolium Oil Alliance Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include, but are not limited to, fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise any forward-looking statements.

Contact Information

  • CONTACT:
    Petrolium Oil Alliance, Inc.
    Marcel Diab
    Administrative Services
    Tel: +971 4 509 6717