Ness Energy Announces Financial
and Operating Results in Its 10-QSB for the Third Quarter 2005,
With the Greatest Income in Company History, and Continued
Positive Cash Flows from Operations.
WILLOW PARK, TEXAS,
U.S.A./NETANYA, ISRAEL,
November 30, 2005 /PRNewswire-FirstCall/ -- Ness Energy
International, Inc. (OTC Bulletin Board:
NESS -
News) reported the Company achieved improvements in
financial and operating results from 2003, when the company
transitioned to a new CEO, to 2005. The Company posts the
greatest income in its history under the direction of Sha
Stephens, President and Chief Executive Officer, as reflected in
its recently filed 10-QSB with the SEC.
Ness Energy, under the management of Sha Stephens, continues to
generate cash flow from operations. For the third quarter of
2005 the Company reported Income of $867,000. This is an
increase of $1,268,000 from the loss of $401,000 in the third
quarter of 2004. The growth in income is due primarily to
increased revenues from the sale of certain oil and gas
properties held for investment, and well service management.
Ness continues to generate cash flow from operations. The third
quarter generated cash flow from operations of $528,000
resulting in $1,938,000 for the year to date 2005. This is an
increase of $2,024,000 compared to the year to date 2004 as of
September 30, 2005. The increase is primarily due to the
increase in income.
Ness President and CEO Sha Stephens commented, "This latest
10-QSB is further evidence of our continuing efforts to increase
shareholder value and further strengthen our financial
foundation. We continue to gain ground toward this goal with
projects emerging on several fronts. I am truly excited about
the progress we have made, evidenced by this latest filing, and
look forward to continuing success.”
Stephens is traveling to London this week where he has scheduled
meetings with top executives from several highly successful
international oil & gas companies who have expressed an interest
in potential partnerships with Ness, on both domestic and
international projects. From London, he will return to Israel to
continue the company’s efforts there. Regarding his travels,
Stephens remarks “We are working on several projects that each
have tremendous potential to materialize into deals that make
sense, which is the centerpiece of our current growth strategy.”
About Ness - The Vision
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.
Forward-Looking Statements
This news release includes forward-looking statements. Actual
results could differ materially from those contemplated by such
forward-looking statements as a result of any number of factors
and uncertainties, many of which are beyond the control of the
company. Important factors that could cause actual results to
differ materially from those in such forward-looking statements
are enumerated in the company's registration statement filed
with the Securities and Exchange Commission. Undue reliance
should not be placed upon any forward-looking statements, and
the company undertakes no obligation to update those statements.
CONTACT:
Ness
Energy International, Inc.
Tina
Sbriglia – Investor Relations
(817)
341-1477 or info@nessenergy.com
Visit us
on the web at
www.nessenergy.com