SOURCE: Phoenix Associates Land Syndicate

September 15, 2005 07:00 ET

We Are Back!!!

COVINGTON, LA -- (MARKET WIRE) -- September 15, 2005 -- Phoenix Associates Land Syndicate (Phoenix) (OTC: PBLS) a holding company with assets in oil, sand & gravel, soil products, land development, trucking, contract hauling, swimming pool construction and construction related industries, today announced that WE ARE BACK! Phoenix is back from temporary offices in Galveston, Texas and is now operating in its home base in Madisonville, Louisiana and Pearl River, Louisiana.

Phoenix has contractors working on both sites and will open the gravel pit office on Monday, September 19, 2005. We now have eight telephone lines working on the ground and eight cellular telephones back in operation. Both locations have electricity and contractors are calling Phoenix like I have never witnessed before, because everybody is desperate for material.

This morning I received the signed faxed copy of a binding letter of intent (LOI) prepared by the law firm of Dickinson and Wright, from the two oil companies we are purchasing. I will keep you informed when we have the hard copies of the LOI, and when we complete the due diligence process on these acquisitions. We will also then provide specific information on the leases we have acquired, the oil wells we have in operation and the oil wells we will be drilling. STAY TUNED.

Forward-Looking Statements

This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.

Contact Information

  • For More Information Contact:
    Ron Blackburn
    (985) 845-4627
    Email Contact

    Mike Mulshine
    Osprey Partners
    (732) 233-3853
    Email Contact