Energy Revenue America Inc. Receives $1.7M Financing From an International Investor
DALLAS, TX--(Marketwired - Nov 10, 2015) - Energy Revenue America, Inc. (OTC PINK: ERAO), a firm focused on the acquisition, development and exploration of Coal Bed Methane (CBM) natural gas, is pleased to provide an update on the Company's recent activities.
After spending the past twelve months repairing and updating their 65 mile natural gas pipeline, and adding new compressors, Energy Revenue America, Inc. (ERA) has received funding from an International investor for $1,743,500. The investment is being used to acquire additional leases, extend the existing pipeline and place 20 natural gas wells into production.
"Putting these 20 wells into production together with our existing wells puts us into a cash flow positive position so we can now turn our attention to producing gas and attracting additional investors. The fact that we own our pipeline and have a Coop that sells our gas, positions ERA to "ride out" this temporary downturn in gas prices as we can still make money if gas prices fall well below $2.00MCF," says Charley Havens, ERA Chairman and COO.
About Energy Revenue America, Inc.
Energy Revenue America, Inc. is focused on the acquisition, development and exploration of unconventional natural gas projects, primarily Coal Bed Methane (CBM) and seeks to acquire and develop properties with significant undeveloped potential and apply technical and operating expertise to maximize the value of these resources.
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as INCL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
(November 10, 2015 - 9:01 AM EST)
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