ROCKVILLE CENTER, NY, Oct. 08, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Supernova Energy, Inc. (OTC PINK: SPRN) (“Supernova” or the “Company”), an U.S. based oil and gas production and exploration company, today announced that its Form 1-A Regulation A Offering Statement to raise up to $10,000,000 has been qualified by the U.S. Securities and Exchange Commission (SEC).  With this new potential funding source in place, the Company will move forward with its planned US oil and gas acquisition and development program.

Supernova intends to use the additional funding to meet three main objectives: 

1) Additional drilling and upgrades to existing oil and gas leases.  Supernova has identified several potential farm-in and upgrades opportunities on current leases. The Company will look at re-completion and drilling of new wells including horizontal drilling and fracking. 

2) Acquisition of new oil leases in areas where Supernova is already active.  Supernova Energy already holds interests in several leases in Kansas and Kentucky and has infrastructure in place to efficiently prospect, drill, and produce oil and gas.  

3) Purchase of working interests in already upgraded and producing leases.  Supernova will seek to strategically acquire interests in existing oil and gas production in Kansas, Kentucky, and other area across the United States. 

Kevin Malone, CEO of Supernova Energy, Inc., commented, “We are very encouraged by the overall positive direction of the oil and gas market in the United States, particularly following tax and regulatory improvements made by the Trump administration.  With this new funding source available to us, we will be able to pursue many possible growth opportunities that should increase oil production and revenue for Supernova Energy, while also increasing shareholder value.  We look forward to announcing the next steps of our acquisition and development program in the near future.”

About Supernova Energy, Inc.

Supernova Energy Inc. (OTC Pink: SPRN) is an American based oil and gas production and exploration company with key holdings in Kansas and Kentucky. The Company’s goal is to acquire economical leases in known oil and gas formations with low cost of recovery. The strategy is to specialize in well bore completion, re-completion and workovers on existing oil and gas production.

For more information investors can visit www.supernovaenergyinc.com

 Cautionary Statement Regarding Forward-Looking Statements

The foregoing contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. This release contains forward-looking statements that reflect Supernova Energy Inc., plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "goal," and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events.  Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any expressed or implied by these forward-looking statements. Important factors that could cause actual results to differ materially from the forward-looking statements are set forth in our quarterly and annual reports.  Other information can be obtained at www.supernovaenergyinc.com