Matmown Announces Substantial Oil and Gas Acquisition In Texas
LAS VEGAS, NV, December 20 2011/PRNewswire-FirstCall/ -- Matmown, Inc. (“Matmown”) (OTC Pink Sheets: MTMW) (www.Matmown.com) is pleased to announce that it has signed a series of agreements effective January 1, 2012, with TX Oil Corp. (“TX Oil”), Harmony Exploration, Inc. (“Harmony Exploration”) and stockholders of TX Oil, pursuant to which Harmony Exploration will transfer certain oil and gas interests to TX Oil and Matmown will acquire all of the equity interest of TX Oil. This acquisition will allow Matmown to control under a working interest, $26,578,000 (representing undiscounted future net cash flow) of Proved Reserves, 9 well bores, all above and below ground equipment associated, and 812 acres of mineral leases in the well-established Eagleford Shale, Austin Chalk, Georgetown and Buda formations of central Texas. Harmony Exploration will continue to operate these wells for at least the next 12 months, during this transition.
Harmony Exploration has been owned and operated by Mr. Glen Chmelar and Mrs. Patsy Chmelar for the last 26 years. Mr. and Mrs. Chmelar each have over 30 years’ experience in the oil and gas business in Texas, with a concentration in the oil and gas rich central Texas region. “We are excited about our oil & gas assets and production joining with Matmown and we believe that this transaction is of great benefit to the overall growth of Matmown as a whole,” quotes Glen Chmelar.
Matmown Chairman, Alex Portelli is quoted as saying, “We could not be more pleased with this acquisition. With our copper assets in Chile, our gold assets in Peru and now with producing oil and gas fields in Texas, we feel that the Matmown is developing properly to become a well-recognized company in the sector.”
About Matmown
Matmown is a gold, copper and now oil and gas company focusing on exploration, production and acquisition of various natural rescource assets through their wholly owned subsidiaries. Matmown, Inc. currently controls mineral assets Peru, northern Chile and central Texas.
For additional news and information on Matmown, contact Alex Portelli at 702.998.9853 or visit
Forward-looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. As with any projection or forecast, these forward-looking statements and forecasts are inherently susceptible to uncertainty and changes in circumstances, and Matmown is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise. Actual results may differ materially from the expectations contained herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors and other factors affecting the operation of the businesses of Matmown.
Contact:
Alex Portelli
Chairman
Matmown Inc.
Ph: 702-998-9853
alex@matmown.com
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