SOURCE: The X-Change Corporation

April 20, 2012 09:57 ET

X-Change Corporation to Acquire Up to 10,000 Net Acres Within the Williston Basin of North Dakota and Montana

HOUSTON, TX--(Marketwire - Apr 20, 2012) - X-Change Corporation (OTCQB: XCHC) (PINKSHEETS: XCHC) announced today through its subsidiary Cress Oil, Inc., an independent exploration and production company based in Houston, Texas, that it will acquire leasehold interests located within the Williston Basin of North Dakotas and Montana.

Cress Oil will buy current net production and capitalize on existing assets from owner. Expectations for recoverable oil within the leasehold have resource targets of more than 900 million barrels of oil equivalent. The company plans to drill 10-20 additional wells.

With an estimated 24 billion barrels of oil within the Williston Basin, the Bakken has been the nation's largest oil discovery in more than 40 years. When the Bakken Formation was first assessed by the USGS for recoverable reserves, it turned out to be only a fraction of what the USGS and industry have actually discovered today. There continues to be acreage of recoverable oil throughout eastern Montana within the Bakken and Williston Basin.

About X-Change Corporation

X-Change Corporation is building interests in a broad range of oil and gas projects worldwide. The Company is an independent energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas.

About Cress Oil

Cress Oil is focused on projects for deep and shallow wells domestically and internationally. Cress Oil will partner with other oil and gas companies to explore for reserves on properties the majors have left behind. Cress Oil earns an interest in new reserves acquired and in production. The company intends to grow through a combination of exploration, exploitation, and development drilling, drilling services as well as strategic acquisitions of oil and natural gas fields. For more information, please visit www.cressoil.com

This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations

Contact Information

  • X-Change Corporation
    Media contact:
    Investor Relations
    281-277-0521