LAS VEGAS, NV -- 04/11/08 --
Arctic Oil & Gas Corp. (PINKSHEETS: AOAG), a
petroleum exploration company, will attend the Offshore Technology
Conference (OTC) in Houston, Texas, May 5th to 8th. OTC is the largest
energy conference in the world at which state-of-the-art technology is
presented to top energy professionals.
Arctic Oil & Gas Corporation's (AOAG ) energy development will be
technology-driven and most of the drilling will fall into the offshore
classification. Company representatives will meet with the top providers
of the necessary technologies in order to continue its preparation for
exploration and drilling, using the most valuable and effective
technologies, which should all be well-represented in Houston.
Founded in 1969, the Offshore Technology Conference is the world's foremost
event for the development of offshore resources in the fields of drilling,
exploration, production, and environmental protection. OTC is held annually
at Reliant Center in Houston.
OTC ranks among the largest 200 trade shows held annually in the United
States and is among the 10 largest meetings in terms of attendance.
Attendance consistently exceeds 50,000, and more than 2,000 companies
participate in the exhibition. OTC includes attendees from around the
globe, with more than 110 countries represented at recent conferences.
Peter Sterling, AOAG's CEO, stated, "We are extremely excited about the OTC
and expect our representatives and consultants to have developed newer,
stronger relationships with the most critical technology providers. If you
are interested in meeting with one of our representatives, please contact
us."
The company also announced that Dr. Jonathan Bujak has resigned from its
Advisory Board in order to meet publication deadlines for his book,
provisionally titled "Climate Change and Global Warming: A Geological
Perspective." Earlier this year, Dr. Bujak provided AOAG with data from
his study on the Azolla interval in northern Alaskan, Canadian Beaufort and
Chukchi Sea exploration wells for inclusion in their in-house assessment of
Arctic petroleum resources.
This interval, which is a potential Arctic-wide petroleum source rock, was
initially identified by the 2004 Arctic Coring Expedition (ACEX) in 50
million year old sediments from the Lomonosov Ridge in the central Arctic.
In return for accessing the study, AOAG agreed to consider Dr. Bujak's
suggestion that AOAG set up and help fund a non-profit organisation tasked
with preserving the Arctic native peoples and wildlife habitats. According
to Dr. Bujak, "It is becoming increasingly evident that Arctic petroleum
exploration is inevitable as these resources become depleted elsewhere.
During the current transition towards renewable resources, the Arctic could
provide some of the energy shortfall, but it is essential that the Arctic
environment, including its native people and wildlife is safeguarded."
AOAG's CEO Peter Sterling strongly supported this view by stating, "Arctic
Oil & Gas is committed to preserving the Arctic Environment and has agreed
to set up 'The Arctic Foundation' as a non-profit charitable organisation
that is totally independent from AOAG. Furthermore, AOAG has agreed to
donate a portion of its pre-tax petroleum profits to the Foundation, and we
hope that other companies bidding to explore in the Arctic Commons for
petroleum resources will follow our example."
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
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of 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.
Investor Relations:
Patrick Lowry
Phone: 702.953.9688
Email: Email Contact
