SOURCE: XR ENERGY INC

June 21, 2016 08:30 ET

XR Energy Issues Corporate Update

IRVING, TX--(Marketwired - Jun 21, 2016) - XR Energy, Inc., (OTC PINK: XREG) is pleased to announce that the Company has delivered financial data to its accountant for the period ending December 31, 2015, and for the first quarter of 2016.

The company accountants have begun work on the year-end financial statements as well as statements for the first quarter of 2016. It is anticipated that this work will be finished within the next several weeks. Once the financial statements are completed they will be uploaded to OTCMarkets.com to bring the company current. At that time the company will also amend and update any additional information to the OTCMarkets.com site. XR Energy is also editing its corporate web site so that all information is current, informative, and the site is fully functioning. 

Akram Chaudhary, XR Energy's President and Chief Executive Officer, said "We are pleased that the price per barrel of oil appears to have recovered and stabilized above $40, a price point that is profitable for the company. The company has successfully weathered a very difficult time period for the industry. We look forward to a continued improvement in the oil price environment in 2016."

About XR Energy
XR Energy is an independently registered publicly traded company (OTC: XREG) in the oil and gas industry. The focus of our business is to explore, develop, enhance and remediate multiple oil and gas properties that have proven available reserves, using and our state-of-the-art technologies and techniques. XR Energy is currently focused on various property assets in the State of Texas and is constantly looking to acquire new opportunities that fit our parameters through the enhanced production of existing properties with proven reserves. XR Energy has acquired several properties, with staged in plans for remediation, work over, water flood, and new drilling development programs and is planning further Oil property acquisitions. Our seasoned management team only chooses properties that can be enhanced by rework of the existing wells, thus increasing the company's ash flow and the value our lease for our shareholders.

Forward-Looking Statements
This press release contains forward-looking statements. Words such as "expects", "intends'', "believes'', and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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