HOUSTON, December 24, 2013 Nexus Energy Services Inc., (OTCBB: NESI) announced today that it has entered into a Letter of Intent to acquire the J. Rollins Construction Company, Dayton, Texas.
?Combining J. Rollins Construction Company?s 25 year impeccable safety, service and profitability record with Nexus Energy Services makes a perfect fit.?
?We have built Nexus Energy Services to be one of the most capable Energy Services Businesses in the marketplace,? added Loretta L. Higgins, Chief Financial Officer of Nexus Energy Services, ?We believe that with the addition of J. Rollins Construction Company Nexus is now uniquely positioned to take advantage of this 25 year old asset and expand the customer based well beyond our current South Texas footprint?
The completion of the contemplated transaction with J. Rollins Construction is subject to due diligence and a definitive agreement.
About Nexus Energy Services:
Nexus Energy Services, Inc. has oil and gas production holdings in South Texas. Incorporated in 1988 Nexus Energy Services has working relationships with Plains All American Pipeline, Energy Transfer and several other oil and gas pipeline transmission companies. Nexus Energy Services will call upon these relationships to exponentially grow the revenues of J. Rollins Construction Company.
About J. Rollins Construction
J. Rollins Construction has specialized in oil and gas pipeline ROW maintenance and in plant service work since 1988. The company employs over 60 people and has annual revenues of over $7MM. Located in Dayton, Texas the company is located geographically in the center of the ?south east Texas energy corridor? close to Baytown, Houston and the Houston Ship Channel. J. Rollins work has been primarily with the Exxon group of companies in the Dayton, Texas area. Of special interest to Nexus Energy Services is the impeccable safety record that J. Rollins has demonstrated over their 25 plus years in the energy maintenance business. J. Rollins carries an A plus ratings on ISNetworld and Veriforce (both nationally recognized safety rating services).
Safe Harbor:
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief, or current expectations of Nexus Energy Services, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words ?may,? ?would,? ?will,? ?expect,? ?estimate,? ?can,? ?believe,? ?potential? and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Nexus Energy Services, Inc.?s ability to control and their actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Nexus Energy Services, Inc.?s filings with the Securities and Exchange Commission.