(World Press Release) FOR IMMEDIATE RELEASE
JUMEIRAH RESOURCES PLC ANNOUNCE SUCCESSFUL LISTING ON THE DEUTSCHE BÃ–RSE FRANKFURT STOCK EXCHANGE
FINANCING ENABLED FOR LOW RISK U.S. IN-FIELD OIL AND GAS DRILLING
(25.Oct.11.) Jumeirah Resources PLC is pleased to announce it has been admitted for trading on the Frankfurt Stock Exchange Open Market on 29.Aug.11.
The company is perfectly poised to activate several redrilling projects including the Northwest Premont where initial tests have shown to exceed expected potential reserves. The listing places Jumeirah Resources PLC in prime position to access the capital markets and work with investors wishing to take advantage of this low risk method of exploiting untapped oil and gas reserves. Prior to this, Jumeirah Resources acquired Paragon Energy Corporation gaining control of its valuable lease assets.
The decision to list and invest in the programme of infield redrilling in the US at this time is based on a combination of favorable factors. The stability and predicted rise of oil prices, the drop in the overhead costs of drilling and the continued prodigious demand in the US for this finite commodity. The US uses more than 19.1 Million barrels each day while the whole of Europe uses about 13.8 million barrels each day. US political will for ´energy independence' and less reliance on foreign imports (coining the phrase ´drill baby drill’) means there is a regulatory background to facilitate this investment as well as an established infrastructure for drilling and production. North America remains the largest consuming area of energy (oil and gas fuelled) with oil consumption in the United States and Canada at almost 3 gallons per day per capita.
Ã¢â‚¬Å“Jumeirah Resources PLC is proud to announce this FSE listing,Ã¢â‚¬ said James Powell, President of Jumeirah Resources, Ã¢â‚¬Å“The potential of our redrilling projects at an optimum time to commence operation, cannot be bettered. We are looking for investment partners willing to reap the rewards of this relatively low risk, high delivering opportunity.Ã¢â‚¬
James Powell, who has a proven track record of managing high-end investment projects, and is also President of a US listed oil company, leads the management team for Jumeirah Resources PLC in collaboration with Steve Olsen and Darrel Jones, industry experts with extensive experience in oil and gas development.
Investors interested in being part of this project should contact Jumeirah Resources: UK Office – Tel +44 118 995 2779 Dubai Office Tel +9714 311 6639
Web Site www.jumres.com Email- [email protected]
Jumeirah Resources PLC Overview
Paragon Energy Corporation, a wholly owned subsidiary of Jumeirah Resources PLC, is an organization, focused on the acquisition, development, exploration and production (E&P) of low risk, high impact oil and gas properties across North America. The Northwest Premont Drilling Prospects acquired by Paragon Energy Corporation encompass over 4,000 acres of high impact gas leases and are located in an area of some of the largest proven gas reserves in North America. Additionally the Company is now viewing to expand its acreage in the region, and is looking to acquire further oil and gas assets examining all prospects to increase the company's potential exploration base for future drilling and production.
About the Frankfurt Stock Exchange
Founded over 400 years ago, Deutsche Borse’s Frankfurt Stock Exchange is the world’s third largest trading exchange, ranking only behind the New York Stock Exchange (NYSE) and NASDAQ. The Frankfurt Stock Exchange is home to public companies from more than 80 different countries with companies from North American making up almost 40% of the total companies listed, including more than 3,200 from the United States alone. Companies from countries like the US, Canada, Australia, the UK, India, and China are increasingly choosing the Frankfurt Stock Exchange over their home country’s stock exchange. “Xetra”, the Frankfurt Stock Exchange’s electronic trading platform, is widely accepted as the most efficient and flexible automated electronic trading system in the world.
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