Westmont’s Receives Final Approval on European Bond Funding Scheme
BELLEVUE, Wash., June 15, 2011 /PRNewswire via COMTEX/ — Westmont Resources, Inc. (OTCQB: WMNS) (“Westmont”), announces today that it has completed all requirements and has received final approved for a European Bond funding scheme developed in conjunction with Regency Financial Group Inc (“Regency”) of Palm City, Florida. The financing will support Westmont’s continued expansion and strengthen the company’s growing technology development program.
“We are excited about Regency’s decision to assist our company and see this funding as a tremendous vote of confidence in our growth strategy,” stated Dr. Bruce Fischer, Chairman of Westmont. “This investment will help accelerate our business plan and strengthen the development and implementation of our EcoRecovery4 (TM) extraction technology system.”
“EcoRecovery4 (TM), is a proprietary extraction process which combines industry disruptive technologies to optimize the recoveries of both oil from heavy formations and gas from shale. The facets of the EcoRecovery4 (TM) include patented processes and devices as well as a uniquely formulated biodegradable and organic substance to enhance yields for both oil and gas production.
Westmont is focused on “wringing value from” long-lived, low risk natural gas and oil properties. “Our current operations are centered on acquiring existing properties and extracting greater financial returns than previously realized through the application of our proprietary cutting-edge technologies,” said Westmont’s President, Glenn McQuiston. “Equally important – our systems, as opposed to the traditional alternatives, meet our goal of producing zero harm to people and the environment.”
“Well known to the oil and gas industry, but, not to the general public is the existence of massive untapped reserves of fossil fuels within the United States that far exceed the nation’s energy needs for many years to come. Tapping into those reserves economically and without harm to the environment is the Holy Grail of the industry as it grapples with the challenges of becoming energy independent from unfriendly foreign sources.”
EcoRecovery4 (TM) is a refined advanced drilling technique, which will enable Westmont and other oil & gas producer licensees to tap those unconventional resources such as shale gas and heavy oil trapped deep within the earth. Westmont intends to both license EcoRecovery4 (TM) and to become full technical advisory partners to independent oil and gas producers.
“We see the Gulf Oil crisis and resultant increase in government regulation of the industry as an opportunity to exploit. The target reserves we are going after are all onshore, primarily in the United States. Currently exploitation of these reserves is limited due to concerns that the traditional production methods are harmful to the environment primarily through the introduction of foreign elements into the formations. EcoRecovery4 (TM) in contrast avoids such potentially harmful materials,” said Glenn McQuiston, Westmont’s President.
The United States’ hunger for energy can be met by domestic supplies of natural gas and oil, if the known reserves can be economically and environmentally tapped. In the long term, the strategy will hinge on the country’s ability to develop unconventional oil and gas reserves such as shale that are typically not quickly accessed due to cost and environmental concerns. The United States’ unconventional fossil fuels are more substantial than those of the Middle East, but questions remain over how safely to the environment they can be brought into production.
About Westmont Resources
Westmont Resources is an independent natural resource and development company headquartered in Bellevue, Washington, with principal operations in the United States. Westmont’s business model emphasizes the acquisition and operation of existing producing assets, in the oil and gas industry. As new technologies expand both the exploration possibilities and production of oil and gas in the face of ever-rising demand, obtaining peak efficiency and production from existing aging wells becomes increasingly profitable. Westmont Resources is committed to significant growth as it pursues its strategy to combine and consolidate assets and companies in the oil and natural gas production and services sectors. For more information about Westmont Resources Inc, visit the company’s website at www.westmontresources.com
Safe Harbor Statement
This press release contains forward-looking statements regarding Westmont Resources Inc within the meaning of Section 27A of the Securities Act of 1933 as amended, as such, may involve risks and uncertainties. Such statements are based on management’s current expectations and cannot be guaranteed. The forward-looking statements discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors affecting Westmont Resources Inc. Forward-looking statements speak only as of the date on which they are made and Westmont Resources Inc undertakes no obligation to publicly revise any forward-looking statement based on the result of new information, future events, or otherwise.
Marc Peterson – Investment Relationsinfo@westmontresources.com1-(888)-264-2738 (TOLL FREE)
SOURCE Westmont Resources, Inc.
Westmont Resources, Inc. (OTCQB: WMNS)
Marc Peterson – Investment Relations
1-(888)-264-2738 (TOLL FREE)
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