LAS VEGAS, NV -- 03/11/08 --
Arctic Oil & Gas Corp. (PINKSHEETS: AOAG), a
petroleum exploration company, will be creating an environmental advisory
board to aid in its development of the "Arctic Commons" prospect. The
Company, along with its development consortium, expects to avoid
controversies that have plagued the drilling in the Arctic National
Wildlife Refuge, known as ANWR.
The Company is now in negotiations with both industry and non-industry
environmental experts to join this board. The Company expects the Board to
help it properly develop the "Arctic Commons" without negative responses
from the environmental community, by working diligently to avoid negative
impacts on birds, animals and other wildlife in the area.
Arctic Oil & Gas Corp. has also adopted an Environmental Code of Ethics,
whereby internal policies have been implemented and are enforced to
minimize the company's 'footprint' on the planet. This includes limiting
the negative impacts on the natural environment through the responsible use
of resources, effective waste management and minimizing of pollution; limit
activities, services and facilities to levels that do not threaten the
integrity of the planet's resources or systems while continuing to support
the economic goals of the company; and seek innovative solutions to
mitigate or avoid undesirable environmental, social and cultural impacts.
Peter Sterling, CEO of Arctic Oil & Gas Corporation, stated, "We believe
that it is our duty to preserve the environment of the region, keeping it
free from any harm and spillage. We will shortly begin to announce the
names of individuals with strong environmental credentials who are joining
this advisory board to help us insure the safe and successful development
of the 'Arctic Commons.'"
Mr. Sterling continued, "We have already committed ourselves and our
consortium to the use of specialized, state-of-the-art, drillships, with
technologies designed to avoid environmental accidents. We have learned
from the mistakes of our predecessors in Prudhoe Bay and other projects. We
expect to be a model company for correct environmental development of
hydrocarbon resources and we expect our advisors to help us adapt
appropriate alternative energy concepts and processes to improve our
efficiency. We can do no less."
About Arctic Oil & Gas
Arctic Oil & Gas representatives have filed a claim with the United Nations
General Assembly and the countries of Canada, Russia, United States of
America, Norway and Denmark, claiming, as a responsible oil and gas
development agent of the "common heritage of mankind," the sole and
exclusive exploitation, development, marketing and extraction rights to the
oil and gas resources of the seafloor and subsurface contained within the
entire Arctic Ocean Common area beyond the exclusive economic zone of the
Arctic Ocean's surrounding countries called the "Arctic Claims." The
Company intends to operate as the "lead manager" tasked to create a
multinational joint venture consortium of major oil companies, whose
technology and managerial expertise will be vital to recovering the oil and
gas from beneath the harsh, deep waters of the Arctic in an environmentally
safe manner.
Please visit www.ArcticOAG.com
This announcement contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934 and the Private Securities Litigation Reform Act of
1995. Actual results may differ from management's expectations. These
forward-looking statements involve risks and uncertainties that include,
among others, risks associated with oil & gas exploration risks related to
competition, management of growth, new products, services and technologies,
potential fluctuations in operating results, international expansion,
commercial agreements, acquisitions and strategic transactions, government
regulation and taxation. More information about factors that potentially
could affect AOAG's financial results is included in its filings with the
Securities and Exchange Commission.
Investor Relations:
Patrick Lowry
Phone: 702.953.9688
Email: Email Contact
