OTC Ventures, a company specializing in asset acquisition and joint venture partnerships,
The company's new CEO, Cedric Atkinson, has extensive experience in business development
Atkinson is currently performing due diligence on an Oil drilling platform in the state of Texas
The company will be releasing additional news in the coming days with details on current negotiations as well as prospective partnerships and asset acquisitions.
PSRU - PureSpectrum, Inc. Signs Joint Venture for Oil & Gas Drilling in Texas; Partners with Paradigm Oil and Gas for Revenues in Q1 2012
PureSpectrum, Inc. (PSRU - OTC Pink) announces today that it has signed a Joint Venture with Paradigm Oil & Gas, Inc. (OTCQB: PDGO) for a 30 well re-entry drilling program in Navarro County, Texas. As previously announced, the 30 wells are a workover of previously drilled, producing wells This initiative marks Phase 1 of a larger, long-term initiative the two companies have agreed on as part of the overall terms. As well, the drilling program is already set up with the necessary infrastructure and equipment for immediate production and Paradigm will act as well operator per the JV. Phase 1 is expected to produce revenues for PSRU in the first quarter of 2012.
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