NEW YORK, March 2, 2012 (GLOBE NEWSWIRE) -- El Maniel International Inc (EMLL:OTC) announced today that the Company is set to ride on the U.S. oil and gas wave by going into oilfield ventures so as to capitalize on the prevailing opportunities in addition to its ongoing endeavors under the gold business domain. "We are thrilled with the entry into the lucrative oil field business initiative by acquisition of substantial stakes in Redfield Ventures, Inc ("Redfield") as Redfield's primary business focuses on high growth strategies of investing in underdeveloped oil and gas production assets with immediate revenue generating capabilities throughout the United States" according to Jamie Khoo, CEO of El Maniel International, Inc "Recently, Redfield concluded an acquisition of 50% working interest in an approximately 40 acres oil lease located in Catahoula Parish, Louisiana known as the Cater Lease, and we believe that this new asset brings significant enhancement to our synergistic growth trajectory".
"The Cater Lease comprises of 4 oil wells with pre-existing infrastructures and equipment which enables accelerated operations and we are expecting near-term revenues from production in as early as April 2012" added Jamie Khoo "Redfield has several other similar oil field opportunities lined up and with its reservoir of resources and financial muscle built on its aggressive business model of continuous oil lease acquisitions, Redfield projects preliminary revenues of at least $5 million for this year. This will contribute significantly to our bottom line in 2012 and we remain focused in evaluation, acquisition and development of natural resources properties with significant potential as we are committed in creating value for our shareholders". For further information and updates on Redfield, please visit www.redfieldventures.com
About El Maniel International, Inc:
El Maniel International Inc is a publicly traded company currently focusing in the gold business domain including but not limited to trading, prospecting, developing and expanding the economic potential of its world class mining claims and the company is committed in creating shareholder's value by ensuring constant development of current and new resources in its global gold business domain. For further information, visit www.elmaniel.com
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risk and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward-looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward-looking statement to reflect changes in the Company's expectations or future events.