SOURCE: Trophy Resources, Inc.

August 23, 2006 10:04 ET

Trophy Resources Defines Strategy and Begins Implementation

CARLSBAD, CA -- (MARKET WIRE) -- August 23, 2006 -- Trophy Resources, Inc. (PINKSHEETS: TRSI) today announces it has defined its strategic objectives moving forward, and it is presently working on the implementation of its plan. The Company's goal is to secure 20,000 acres of redevelopment land and generate 1,250 Bbl / day in oil production in the first year of operations.

Trophy Resources is committed to increasing its holdings of oil-rich land leases, with the goal of developing productive oil fields through redevelopment initiatives. The Company has targeted the Southwestern region of the U.S. and Appalachia, and it is in the process of evaluating multiple prospects in the area, each with significant potential for oil reserves.

Eric Leonetti, appointed Chief Operating Officer twelve weeks ago, is aggressively involved in growing the Company to meet its stated goals. Mr. Leonetti added: "With the price of crude oil rising to record levels, there has been a proliferation of small companies competing for land leases and engaging in innovative redevelopment projects. Given this competitive environment, we must be focused in our exploration efforts and look at the most cost-effective means of oil exploration, including the use of water and inert gas flood methods to reinvigorate once productive fields."

The Company is continuing to investigate wildcat and developmental plays, as is evident with their involvement in the N.E. Glasgow project (Williston Basin, Montana) but the focus is presently on increasing the Company's holdings in Southwest Texas.

Trophy Resources assesses all projects on the basis of defined investment criteria including the preservation of capital and mitigation of risk.

About Trophy Resources

Trophy Resources, Inc. (www.trophyoil.com) is a publicly traded company dedicated to building a diverse portfolio of high value, low risk energy and mining projects. The Company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Trophy Resources, Inc. is an exploration with limited experience in the oil and gas industry. At the time of this release Trophy Resources lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Trophy would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider, this list is limited and additional risk not mentioned may apply: failure to meet Trophy's financial and contractual obligations, Trophy's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.

Contact Information

  • Contacts:
    Trophy Resources
    Eric Leonetti
    COO
    866-284-8617

    Trophy's Investor Relations Firm
    D P Martin & Associates
    Doug Martin
    561-514-0196