Nevtah Capital Management (PINKSHEETS: NTAH) today announced that the Company and its joint venture partner, Black Sand Energy, have been invited to participate in Sachs' Global Resources Capital Forum in London and Zurich this month.
Nevtah and Black Sand have been invited to provide their corporate presentation to a select group of qualified institutional investors, analysts, fund managers, bankers and financial media at both conferences. The London Forum (www.mbendi.co.za/sachs/events/e3om.htm), sponsored by the London Stock Exchange, will be held in London on October 17th and 18th. The Zurich Forum (www.mbendi.co.za/sachs/events/e3ol.htm), sponsored by the SWX Swiss Exchange, will be held in Zurich on October 19th and 20th. These invitation-only conferences provide a forum for leading resource and energy corporate presenters, online one-to-one meeting systems and a series of analyst and industry roundtables. The Company regards these conferences as a valuable vehicle for exposure of the joint venture partners' patented, closed-loop technology for oil sands extraction and an opportunity to network with decision makers and industry counterparts, as well as a medium to expand their investor base and analyst coverage throughout Europe.
The Company also wishes to update details on the joint venture with Korea Technology Industry Co. Ltd., (KTI), originally announced in its press release dated October 6th, 2006 ("Nevtah/Black Sand Energy Sign Letter of Intent....."). As Nevtah/Black Sand Energy's investment partner, KTI will provide $10 million USD to develop the joint venture partners' leases in the state of Utah, encompassing multiple leases which may include the areas of Asphalt Ridge, Sunnyside, PR Spring and Whiterocks. In return, the joint venture will produce up to a maximum of 100,000,000 barrels of oil on a best efforts basis over a mutually agreed period of time. The oil will be delivered to refineries in Salt Lake City, where it will be refined and sold at market prices.
KTI will receive 50% and Nevtah/Black Sand will receive 50% of the net profits after all operating costs are subtracted. Nevtah and Black Sand will utilize the cash injection for the purchase of additional leases, technology enhancement, unit construction or infrastructure costs such as surveying, core drilling or road building. Demonstrations of the joint venture partners' operating production plant and negotiations with other potential joint venture partners and private land owners in the Utah Oil Sands areas are currently being held in Oklahoma. Nevtah and Black Sand are continuing their search for additional quality oil sand property leases.
For more information on Nevtah Capital Management, please visit the corporate website at: www.nevtahoilsands.com or call Paul Davey, Investor Services, at (778) 389-0915 (Canada), (firstname.lastname@example.org), Daniel P. Kesonen, President & CEO, Nevtah Capital Management (561) 626-9901.
Nevtah Capital Management adheres to the provisions, regulations and specifications of the Safe Harbor Act.
(778) 389-0915 (Canada)
Daniel P. Kesonen
President & CEO
Nevtah Capital Management