Ness Energy Validates Improved Financial Perspective; Public
Accountants Eliminate Going Concern Limitation
WILLOW PARK, TEXAS, U.S.A./ NETANYA, ISRAEL: September
23, 2003/PRNewswire-FirstCall/ -- Ness Energy International, Inc.
(OTC Bulletin Board: NESS) announced the determination by the
companies' independent public accountants to remove the going
concern limitation pertaining to the financial statements, a move
Management believes is reflective of the improved financial
perspective of Ness, a company that has seen a steady increase in
the price of its stock as it pursues a new outlook.
New Development
Ness has been notified, by the independent public accounting
firm, that the firm of accountants has determined Ness is no
longer subject to a going concern limitation and further Ness may
amend its financial statement disclosure to remove the limitation.
The firm, independent from the Company in accordance with SEC
mandates, supplies accounting services, including annual audits,
and was under no obligation to make this beneficial determination,
one which may, among other potential benefits, lead to increased
activity in relation to funding and other deal sources.
According to Sha Stephens, Ness President and C.E.O., "Simply
put, a going concern limitation can be viewed as a strike against
a company. It tells people, including potential investors, stock
market players and funding sources, to beware that a company may
not be able to continue, cannot pay its bills...... is at serious
risk. My further opinion is removal of this limitation will
strengthen our developing negotiations with deal sources, given
the removal of a major impediment to deal making. Nobody can say
for sure in the days ahead, but this good news is a blessing which
should give us support in our pursuits."
Hand in Hand With Stock Performance
Ness believes the removal of this limitation goes hand in hand
with the continued stock performance of recent weeks, strong
points to be made with potential deal sources. According to Pres.
Stephens, "We are in a dynamic phase where hard work is matched by
new blessings. Shareholders have seen, from recent weeks, a growth
in value, improved liquidity, the start of active well operations,
and now the beneficial accounting change." Further, "We are
committed to continue the work on many levels, in the field where
workers are moving earth on Ness projects, and in the market, like
negotiations we are having with Wall Street sources. The Good Book
says man should subdue the earth and its resources so I am proud
to be part of a company with thousands of believers as supporters
doing what the Word calls us to do. "
Ness Plans Amended Filing
Ness is preparing to file an appropriate amendment to its
public company filings to reflect this news and believes this
event will also be taken as a positive move, with further news to
be released as it develops.
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 oil rich State of Texas, and also in the Middle
East, specifically Israel. Ness believes that Israel is a place
where science and religion 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. Unless legally required, the
Company undertakes no obligation 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.
Further Information
CONTACT: Mary Gene Stephens, Executive Secretary of Ness Energy
International, Inc., 1-817-341-1477