Business
South Texas Energy Acquisition
South Texas Energy Acquisition.
About this update from Nexus Energy Services, Inc.
[{"type":"text","content":"Houston, TX ? Nexus Energy Services Inc. (PHARD: OTC Pink)\nis excited to announce an acquisition in South Texas from a private Texas based\noil and gas company for $1.5 million in a combination of cash, stock and notes,\neffective August 1, 2013. This\nacquisition consists of a 100 percent of the Working Interest in a 250 acre\nlease in the upper and lower Frio Basin. \nChief Financial Officer and Director Loretta Higgins said, ?Based on the\ngeological and reserve reports, this acquisition will lead Nexus? entry into\nthe energy production sector with proven profitability and potential for future\ndevelopment.? \n\nMs. Higgins stated, ?This acquisition incorporates an\nexisting cash flow from one producing well and two proven undeveloped locations\ncontaining upwards of 300,000 barrels of oil. \nThis information will be reflected in the 2013 annual report.? The September 2013 annual report will be made\navailable on or around October 25, 2013. Ms. Higgins noted, ?The early release of this annual report signals our new\ncommitment to supply timely and accurate information to shareholders. This annual report will include restated financial\nstatements as result of thorough and ongoing examinations of the books and records\nof Pharmstar Pharmaceuticals. This examination\nis essential due to an inability to validate previously released financial\nstatements.\"\n\nInvestors should be advised that as part of this internal\nreview, past quarterly and yearly financial statements can no longer be relied\nupon and a restatement will be published on or about November 8, 2013.\n\n \n\nFORWARD-LOOKING STATEMENTS\n\nThe information in this news release includes certain\nforward-looking statements that are based upon assumptions that in the future\nmay prove not to have been accurate and are subject to significant risks and\nuncertainties, including statements related to the future financial performance\nof the Company. Although the Company\nbelieves that the expectations reflected in the forward-looking statements are\nreasonable, it can give no assurance that such expectations or any of its\nforward-looking statements will prove to be correct. Factors that could cause results to differ\ninclude, but are not limited to, successful execution of growth strategies,\nproduct de...