FT. LAUDERDALE, Fla., May 8, 2009 (GLOBE NEWSWIRE) -- EnerBrite Technologies Group, Inc. (Pink Sheets:ETGG), an operating oil and gas production company, along with its wholly owned subsidiary Rebel Oil Company, is implementing a growth program designed to increase production of oil and to begin exploratory drilling for natural gas. The plan calls for re-working and repairing the existing 76 wells but the Company also believes this is the time to acquire undervalued properties and assets and to quickly identify, target and develop plans for future production. This will effectively exploit the increased global demand for oil that many of the larger competing companies would not be able to accommodate should demand increase quickly in a resurging economy.
EnerBrite Technologies Group has identified approximately 88 operating oil wells on land adjacent to its property. With the successful acquisition of these wells, the Company could double current production. The Company's primary advantage over larger competitors is significantly lower operating costs, lower cost of acquisition, and the ability to move quickly to identify and acquire exploitable assets.
"The time is right to acquire a mixed portfolio of producing assets to enhance the Company's growth," said Jack L. Stapleton, President of EnerBrite Technologies Group. "We are committed to providing our shareholders with value added transactions."
About EnerBrite Technologies Group, Inc.
Headquartered in Fort Lauderdale, FL, EnerBrite Technologies Group, Inc., through its wholly owned subsidiary Rebel Oil Company, Inc., is engaged in the acquisition, exploration and development of oil and natural gas properties, with primary focus on properties in eastern Kentucky. The Company is a growing independent energy company with an experienced operating company with technological expertise to exploit existing oil reserves and exploratory natural gas resources on its properties in eastern Kentucky.
Forward-Looking Statement
Certain statements in this news release, which are not historical facts, are forward-looking statements. These statements are subject to risk and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors which may be beyond the reasonable control of EnerBrite Technologies Group, including, but not limited to, the availability and pricing of additional capital to finance operations, including the longer term drilling programs and additional leasehold acquisitions, the viability of the oil and gas fields in eastern Kentucky, the ability of EnerBrite Technologies to build and maintain a successful operations infrastructure and to effectively develop producing oil wells, the successful negotiation and execution of cost-effective third-party gas drilling and distribution agreements for exploratory natural gas wells, the continued commitment of operators, future economic conditions and the volatility in energy prices. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of EnerBrite Technologies Group can be found in the filing of EnerBrite Technologies Group with the Pink Sheets Electronic OTC Markets.