CALGARY, Alberta, April 7, 2014 (GLOBE NEWSWIRE) -- Dino Energy Corporation (OTCBB:DINO) ("Dino" or the "Corporation"), listed on the OTCBB ("OTCBB") is pleased to announce that it has entered into an Agreement ("Agreement") dated April 7, 2014 in which Dino will assume, along with conditions, 49% ownership interest in a newly established company in Qatar, Dino Energy Petroleum Services, to pursue oil and gas exploration and development projects in Qatar. Dino Energy Petroleum Services is currently waiting for a vendor license to begin its operations. In addition to Dino, there are two other shareholders, one of which is Sheikh Fahad Al-Thani who is a member of the Royal Family of Qatar.
"We are very excited to have this opportunity to join this newly established Qatar company to pursue the exploration and development of oil and gas projects in Qatar. Qatar along with other countries in the Middle East has some of the most prolific oil fields in the world, with a relatively low operating cost. We are particularly excited about the opportunity to join Dino Energy Petroleum Services and to work with a member of the Qatar Royal Family, and are looking forward to develop a long term working relationship with him," said Eric Lawson, President and CEO of Dino.
Certain statements contained in this release are forward-looking statements and are based on future expectations, plans and prospects for Dino's business and operations that involve a number of risks and uncertainties. Dino's forward-looking statements in this release are made as of the date hereof, and the Corporation disclaims any duty to supplement, update or revise such statements on a going-forward basis, whether as a result of subsequent developments, changed expectations or otherwise. In connection with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the Corporation is identifying certain forward-looking information regarding, among other things, the assuming of 49% ownership interest in Dino Energy Petroleum Services of Qatar to pursue the exploration and development of oil and gas projects in Qatar. Actual events or results may differ materially from those contained in these forward-looking statements. Important factors that could cause further events or results to vary from those addressed in the forward-looking statement include, without limitation, risks and uncertainties arising from the ability of Dino Energy Petroleum Services to successfully pursue the exploration and development of oil and gas projects in Qatar; uncertainties relating to the ability to realize the expected benefits of assuming the 49% interest in Dino Energy Petroleum Services; unanticipated or unfavorable regulatory matters; general economic conditions in the region and industry which Dino and Dino Energy Petroleum Services operate, and other risk factors as discussed in the Corporation's other filings made by the Corporation from time to time with the Securities and Exchange Commission.
CONTACT: FOR FURTHER INFORMATION, PLEASE CONTACT: Dino Energy Corporation Eric Lawson, President and CEO Telephone: (403) 287 - 0066 Facsimile: (403) 228 - 3013Source:Dino Energy Corporation