Ness Energy Renewed Israeli Push; Acquisition Pending
WILLOW PARK, TEXAS, U.S.A./ NETANYA, ISRAEL: October 10,
2003/PRNewswire-FirstCall/ -- Ness Energy International, Inc. (OTC
Bulletin Board: NESS) has started a renewed push in Israel, with
final steps on a major Israeli acquisition.
Groundwork Set
Ness has advanced the Israeli vision by first placing order to
its domestic and Israeli resources, opportunities and operations.
Ness focus, the past several months, to achieve the Israeli vision
of supernatural wealth for Israel and others, has been to complete
the management transition, establish stronger relations with Wall
Street, evaluate past and proposed Texas and Israeli pursuits, a
new plan or "New Outlook," and progress the New Outlook
forward.
This focus has resulted in major progress on each point: the
transition was remarkably smooth, with Ness' new President Sha
Stephens restructuring corporate, bringing stability where there
was uncertainty, and confirming in the minds of many people here
and in Israel, Ness is in good hands. Office use in Wall Street,
across from the NYSE, was arranged with a Wall Street firm and
numerous in roads were built with Wall Street. The markets
acceptance of Ness is self-evident reflected, in Management's
opinion, by a significant improvement in the Ness stock
performance. Management made a major effort, including inspections
and meetings in Israel by President Sha Stephens, to study the
Ness position. The New Outlook was formulated and is being
followed. Most importantly, Ness has put the New Outlook into
effect establishing Texas well operations seeking to generate cash
flow for the realization of the Ness Vision.
Fresh Israeli Efforts
Ness now stands on solid ground, to make a fresh push in
Israel, to advance the vision for Israel. Numerous negotiations
are underway with funding and deal sources, with Ness stepping
carefully in the Wall Street arena, having a realization that
these efforts will probably result in major resources for Ness
business plans. To prepare for the use of these coming resources,
Ness has aimed its sights on Israel, a place where "science and
the bible shake hands." According to President Stephens, "We have
moved forward on many fronts, including the establishment of Texas
well operations and a tremendous improvement in our stock, and now
we will focus hard on Israel and make a thrust on several fronts
in the weeks ahead." President Stephens will travel to Wall Street
and Israel to progress Ness plans.
Negotiations Pending: Results Close
With a focus on Israel, now that current Management has had
time to find out, "who is on first," Ness has reopened a line of
communication with a past opportunity, speaking directly to the
principal of an Israeli oil and gas company. This has resulted in
final negotiations, mostly on small details, and Ness believes it
will execute a final written agreement before months end. The
targeted project encompasses thousands of acres and also has
several wells that have produced heavy oil. Ness' plan includes
implementing and putting to work recently acquired well service
equipment to restore and enhance production from these wells to a
commercial level.
President Stephens stated, "Now that I have had time to assess
all the many different, and there were many, projects and deals
that Dad was considering, I have narrowed the field to only the
deals Ness needs to pursue to see that the vision is realized. In
the best interest of Ness and its shareholders, Ness will pursue
only current and future deals that make sense from a business
stand point. Our goal is to increase cash flow to the company,
increase shareholder value and at the same time propel our efforts
forward in Israel to realize the vision of drilling the deep well
at the southwest end of the Dead Sea."
Other News
Ness has made progress on Texas drilling operations, a past
legal dispute, and negotiations with larger concerns on joint
drilling efforts, with final news to be issued this coming
week.
About Ness - The Vision
The current business of the Company is focused upon development
and execution of oil and gas exploration plans with a focus both
on pursuits in the petroleum rich State of Texas, and also in the
Middle East, specifically Israel. Ness believes that Israel is a
place where science and the bible walk hand in hand and that Ness
will achieve the vision of the location and recovery of an
abundant source of oil and gas in Israel to supply Israel and the
Christian communities with supernatural wealth, God willing.
Certain Information
Certain statements in this news release may contain
forward-looking information and are based on Management's current
expectations, estimates and projections subject to change. Words
such as "anticipates," "expects," "intends," "plans," "targets,"
"projects," "believes," "seeks," "estimates" and similar
expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and
other factors, some of which are beyond our control and are
difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecasted in such
forward-looking statements. You should not place undue reliance on
these forward-looking statements. You should not place undue
reliance on these forward-looking statements. Unless legally
required, the Company undertakes no obligating to update publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise. The Company disclaims any
information that is created or distributed by any outside party
and endorses only information that is communicated by its official
Press Releases.
Futher Information
CONTACT: Mary Gene Stephens, Executive Secretary of Ness Energy
International, Inc., 1-817-341-1477