Ness Energy Closes Additional Transaction With Large
Independent; Oil Reaches Historical Levels As Meetings With Wall
Street Firm Ongoing In Texas This Week
WILLOW PARK, TEXAS, U.S.A./NETANYA, ISRAEL: September 30, 2004
/PR Newswire-FirstCall/ -- Ness Energy International, Inc. (OTC
Bulletin Board: NESS) announced the completion of the third
transaction with the large independent oil and gas company of
approximately $500,000.00 bringing the total sales to this company
over $2,000,000.00. Meetings with a Major Wall Street firm and its
financial contacts are ongoing in Texas at press time in the light
of unprecedented increases in oil and gas prices.
Transaction With Independent Completed
Earlier this year, Ness announced new discussions and efforts
with larger independent oil and gas companies seeking to transact
with Ness to lead to a vast expansion of Texas exploration and
development, along with cash flow to Ness. Ness has undertaken
more than one of these transactions, and further are planned. Ness
has now completed another transaction resulting in approximately
$500,000 gross to Ness and Ness believes cash flow from these
transactions will assist the Company in its plans to establish
solid cash flow through production maintaining the fact that they
will, and are expanding operations in Israel.
Oil Prices Rising, Shortages Predicted, Meetings
On-going
Oil lingered above the $50 per barrel threshold in Asian trade,
breaching the mark for the second straight day. Oil now costs
around 75 percent more than it did a year ago. Crude oil just
traded at $50.09 per barrel. It hit $50.47 on Tuesday. As we
approach winter, demand and prices may increase. As
the cost of oil rises, Ness believes negotiations and
opportunities for funding and ventures will increase during this
year and into the new year as investors shift their focus to the
commodity which occupies many media outlets.
Oil shortages may increase dramatically. The debate is flaring
up on supply and demand with new concern because of some powerful
forces changing the geopolitics of oil, among them the rise of an
oil-guzzling China and persistent instability in the Middle East,
Russia and elsewhere. So far, over the approximately 150
years since the first oil well was drilled, the world has consumed
about 900 billion barrels. The industry remains bullish. It
believes continued improvements in technology will enable it to
extract enough fossil fuel to stay ahead of demand. Ness is
utilizing recent industry improvements on its re-work projects and
believes that fears concerning shortages will make exploration in
Texas, and possibly even Israel, attractive opportunities in the
World today. Ness is attempting to establish both short and long
term funding for its exploration program. Ventures and funding to
Ness this past 12 months have already resulted in well over $1
million dollars in cash. Ness is now poised to expand operations,
having established a vehicle with existing well re-works and real
estate rights, professional advisors, including lawyers and
consultants, a history of completed transactions with larger
independents, and a company that is audited, well managed and
focused on a vision going beyond just locating oil and gas in
Texas....to locate a large supply of oil and gas in Israel, where
Ness maintains assets and operates in the country.
Possibly in light of these World events, but more importantly
from groundwork with Wall Street this past year, meetings have
occurred this week, as Wall Street and related advisors traveled
from their New York and Florida offices to meet and negotiate with
President and CEO Sha Stephens at company headquarters.
About Ness
Ness Energy is an aggressive, emerging oil and gas company
building on deals that make sense. Ness Energy operates interests
in the Ft. Worth Basin and the Coastal Plains regions of Texas.
Ness is also a very active player in the energy industry in Israel
carrying out the Vision of The Company. Ness Energy is building at
a high-speed pace through Merger, Acquisitions, Drilling, Re-Work
and Re-Entry.
Certain Information
Certain statements above are forward-looking based on
Management's expectations or estimates, subject to change. Words
like "anticipates," "expects," "intends," "plans," "projects,"
"believes," "estimates" and similar identify them. They are not
guarantees of performance or otherwise and are subject to risks,
uncertainties and other factors, some beyond control and difficult
to predict. Therefore, outcomes may differ materially from these
statements. Do not place undue reliance on them. 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
information created or distributed by any outside party and
endorses only its official Press Releases. Figures are estimates
unless otherwise noted and are subject to final figures in
financial filings with the SEC. Comments concerning plans,
filings, reports or other documents are limited in that they may
express opinions or be summaries of less than all of the
information.
CONTACT:
Ness Energy International, Inc.
Tina Sbriglia - Investor
Relations
(817) 341-1477 or info@nessenergy.com
Visit us on the web at http://www.nessenergy.com/