NEW ORLEANS, April 29, 2014 (GLOBE NEWSWIRE) -- Lighthouse Petroleum, Inc. (OTC Markets:LHPT), an independent oil and gas company (the "Company" or "Lighthouse"), today announced that the company has executed a term sheet for a Participation Agreement (commonly called a "joint venture" in the industry) with Rampart du Monde Partners LLC to acquire producing oil and gas properties with upside potential. The first acquisition is anticipated to be approximately $9 million and may close within the next 3-6 months. Other projects have been identified for potential acquisition. Rampart du Monde Partners LLC is a private Nevada corporation whose business plan is to acquire, manage, and develop oil and gas properties, principally in the Gulf Coast area. The principals of Rampart du Monde Partners LLC are Rampart Development and Investment Partners LLC whose co-founder and managing partner is William A Sawyer, co-founder and former CEO of Lucas Energy, Inc. (a public company on the NYSE MKT), and Mickey Christian, co-founder and former principal in the investment firm of Caywood-Christian Capital Management. More information will be available in the near future.
Gerard Danos, CEO of Lighthouse Petroleum, Inc., commented, "This is a new day and a great step forward for the company being able to partner up with a company whose founder has more than 40 years of experience in the oil and gas business."
About Lighthouse Petroleum, Inc.
Lighthouse Petroleum, Inc., a Delaware Corporation, is an independent oil and gas company based in New Orleans, Louisiana. The company acquires oil and gas properties, and looks for underlying value. Our goal for the current year is production and revenue growth, and expansion of our asset base using joint ventures.
For more information, please visit the updated Lighthouse Petroleum web site at www.lighthousepetroleum.com. Lighthouse has updated the website to help increase the company's transparency and provide additional communication about operations.
Forward Looking Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. Lighthouse Petroleum, Inc. is an exploration company with limited experience in the oil and gas industry. At the time of this release Lighthouse Petroleum, Inc. lacks the financial capabilities to meet its financial obligations and its management expects to dilute the company's shares to raise the necessary operating capital. Based upon industry standards Lighthouse would be considered highly speculative and lacks any competitive advantage over its competition. Additional risks you should consider are that this list is limited and additional risk not mentioned may apply: failure to meet Lighthouse's financial and contractual obligations, Lighthouse's managerial errors made based upon the Company's limited experience and knowledge of the industry, commodity risk, acts of God and regulatory risk. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
CONTACT: Gerard Danos, Chairman/CEO Lighthouse Petroleum, Inc. firstname.lastname@example.org 1-985-237-1701
Source:Lighthouse Petroleum, Inc.