SAN DIEGO, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Ziyen Inc.’s Energy Division are proud to announce they have acquired the mineral rights to an additional two oil fields in the Illinois basin; making a total of 5 oil fields held by the company. The most recent acquisitions total 260 acres, one which is 140 acres and another 120 acres, respectively.
This time Ziyen Inc. have acquired the mineral rights, including the oil, gas and coal, which provides an excellent long-term asset for the company.
Ziyen Inc. Oil Intelligence Director, Shane Fraser said,
“As we steadily continue to grow the list of assets Ziyen Energy has acquired in the last few months, we keep in mind the importance of having a good overall historical picture of the land on which the mineral rights we own are now located; these last two acquisitions in particular have extensive geological surveys, which gives us a good indication of the plans we will need to draft in order to commence oil production.”
Alastair Caithness, CEO, stated
“It has been just over 6 months since we picked up our first oil asset and now we have acquired 5 in the Illinois Basin. We are on track to reaching our goal of acquiring $500 million in oil reserve assets and we plan on bidding on more oil leases and mineral rights in the next few months.”
About Ziyen Inc.
Founded in 2016, Ziyen Inc. is a Scottish-American company developing cutting edge procurement software to provide clients with industry specific government and private contracts via procurement portals. In 2017, Ziyen diversified, instating the Ziyen Energy Division, with intent to produce oil in the U.S. with advanced extraction methods and technology implemented and guided by career experts in the oil and gas industry. In June 2017, Ziyen acquired the mineral rights to its first oil field in Indiana, and now has two assets. The U.S. Securities and Exchange Commission (SEC) recently qualified Ziyen Inc. in November 2017 for our second round of funding, with a pre-IPO share price of $1.50. More information may be found in its Offering Circular filed with the SEC, or on their website www.ziyen.com
About Granite PR
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Forward Looking Statements:
Certain statements in this press release including, but not limited to, statements related to anticipated commencement of commercial production, targeted pricing, performance goals, and statements that otherwise relate to future periods are forward-looking statements. These statements involve risks and uncertainties, which are described in more detail in the Company's periodic reports filed with the SEC- specifically the most recent reports which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements are made and based on information available to the company on the date of this press release. Ziyen Inc. assumes no obligation to update the information in this press release.