DMEC Domestic Energy Corp (CE)

Domestic Energy Corporation. (OTC.PK: DMEC)(“Domestic Energy” or the “Company”) announced today that on the 10th of October 2009 the majority shareholders and the Board of Directors reached an agreement with the Avalon Group Limited for the acquisition of controlling interest in the Company.

The Avalon Group Ltd will move to recapitalize the Company over the next few months. The focus of Avalon will be to merge several of the Groups North American and International natural resource projects into Domestic Energy to advance the Company into a consistent and positive revenue stream. Pursuant to the terms of the agreement, the board of directors and executive officers of Domestic Energy resigned and were replaced by the board and officers of The Avalon Group Ltd’s natural resource division.

"The successful completion of this transaction is a major milestone for us,” stated Marcie Corbin, the Avalon Group Ltd’s Chief Financial Officer. “Our acquisition of the controlling interest in the Domestic Energy Corporation will provide us with new opportunities to expand our International natural resource operations into North America, and enable us to grow our company, and greatly enhance our visibility and market awareness of our products and services."

“As a member of the new Board of Directors for Domestic Energy, I am excited for the future of the business and the expansion of its role in the North American and International oil and gas industries”, stated Dr. Bruce Fischer – Chairman of the Board for the Domestic Energy Corporation / bruce.fischer@domesticenergycorp.com

Avalon Group Ltd is an International based private equity investment corporation, which identifies and develops assets within the Agro-Forestry, Healthcare, Exclusive Leisure Travel, Software Technology, Media Distribution, Entertainment, Natural Resource and Real Estate economies with the potential for above average capital appreciation and increasing cash flow returns. We maintain a diversified portfolio of business and investments in order to limit operational and industry risks.

Domestic Energy Corp is a independent oil and gas exploration-development company focused on the exploitation of long-lived, low risk natural gas and oil properties. Domestic Energy is in a position to acquire and exploit shut-in gas wells and those wells whose profitability has declined due to interrupted service. Additionally, revenue is generated by transporting gas to market for other producers. Domestic Energy will be positioned to maximize production of existing wells by proper engineering practices such as well stimulation in the form of nitrogen or acid fracturing.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), as such, may involve risks and uncertainties. Forward-looking statements are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe," "expect," "intend," "anticipate," "project," or other similar expressions. Forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) obtaining necessary financing and managing existing debt; (3) completing the investigation, acquisition and integration of new business opportunities; (4) complying with federal, state and local government and international regulations; and (5) other factors over which we have little or no control.

Domestic Energy (CE) (USOTC:DMEC)
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부터 2월(2) 2025 으로 3월(3) 2025

Domestic Energy (CE) (USOTC:DMEC)
과거 데이터 주식 차트
부터 3월(3) 2024 으로 3월(3) 2025