(EMAILWIRE.COM, February 07, 2010 ) Oklahoma City, OK - All State Properties Holdings, Inc. (OTC BB ATPT.OB) is a publically traded company whose objective is to seek out and develop opportunities in the energy sector. The Company’s strategic focus is to engage in the acquisition, exploration and development of crude oil and natural gas reserves in North America through asset purchases or company transactions and to further develop those reserves to increase production and cash flow. Management believes that a balanced strategy of acquisitions coupled with increased production can rapidly grow its reserve its reserve base and increase shareholder and company value.
All State Properties Holdings believes it is well prepared to succeed in both its geographic and strategic focus areas based on the extensive oil and gas experience of its management team. This experience combined with creative abilities has resulted in a long list of active projects to pursue in achieving the company’s mission.
All State Properties Holdings, Inc.(OTCBB-ATPT) is an Oil
and Gas exploration company that is US based and owned. The company was founded in 1984 and is currently run by the President and CEO Dr. Robert Gates. The home office is strategically based in Memphis,Tennessee between its two upcoming project areas of Kentucky and Oklahoma where new offices will be established..Company officials believe that with today’s economy and high demand for oil and gas, that this is the perfect time forincreasing and expanding the exploration for natural resources in the United States. The company also intends to enter into strategic partner-ships with other oil production companies
while retaining the right to in-ground reserves.
Special points of interest:
1. Increasing the number of wells from 50 to 200
2. Gas vein in Kentucky 100ft thick
3. Land available for expansion in both Oklahoma and Kentucky
4. Tightly held with only 4M shares in the float
The first is in Okla-homa and is a 2500 acres with 50 wells,and the room for an additional 150 wells to be added.The 2nd is in West Central Kentucky, Bowling Green area.In this location the well is a shallow 1220 ft depth and 100ft thick natural gas deposit. This
covers almost all o fButler and Warren counties . This gas is referred to as Black shale
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Forward-Looking Statements - Safe Harbor:
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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