VANCOUVER, BRITISH COLUMBIA and HOUSTON, TEXAS--(Marketwire - Dec. 18, 2009) - In an effort to accelerate shale gas development, Realm Energy International Corporation ("Realm Energy" or "the Company") (TSX VENTURE:RLM) and Halliburton (NYSE:HAL) are pleased to announce they will aggressively continue the evaluation of high potential shale deposits throughout Europe and select emerging countries.
In early 2009, Realm Energy began collaborating with Halliburton Consulting on a global evaluation of shale plays with potential for natural gas and oil production. Shale deposits are a proven and significant resource in North America and an emerging unconventional resource in other areas of the world. With an initial focus on Europe, Realm Energy and Halliburton successfully selected eight discrete sedimentary basins in seven European countries, identified key prospect trends and targeted a substantial amount of petroleum and natural gas leases for acquisition.
"Following our evaluation, Realm Energy is pleased to inform its shareholders that the Company is in the process of acquiring large contiguous tracts of land over significant shale formations," said Realm Energy Chairman Craig Steinke. "As we enter the exploration and development phase of our strategy, we can rapidly transfer Halliburton's extensive shale knowledge and modify best practices from all North American shale plays to continental Europe and beyond."
Going forward, Realm Energy will access Halliburton's global infrastructure and partnerships, leading edge solutions and customized strategies for optimizing value from each specific shale formation, with the highest environmental standards.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 50,000 employees in approximately 70 countries, the company serves the upstream oil and gas industry throughout the life cycle of the reservoir-from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit Halliburton's website at www.halliburton.com.
About Realm Energy
Realm Energy International Corporation is a Canadian domiciled global energy company focused on driving the exploration and development of major shale plays throughout Europe and emerging countries. The Company is in the process of acquiring petroleum and natural gas rights in large contiguous tracts which it has identified as high potential, and is committed to leveraging the most advanced shale technology to bring these resources into production. Visit Realm's website at www.realmenergy.ca.
Realm Energy International Corporation
Craig Steinke, Executive Chairman
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" within the meaning of applicable Canadian provincial securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the required Exchange acceptance and the completion of a private placement financing. Forward-looking statements are necessarily based upon estimates and assumptions that, while considered by the Company's management to be reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals, or delay or failure to complete the required private placement financing. There can be no assurance that the Company will complete the private placement financing or secure the final acceptance of the Transaction from the TSX Venture Exchange, or that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange.
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