Optium Cyber Systems to Explore Opportunity in Oil and Gas
THE WOODLANDS, TEXAS, Aug. 30, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Optium Cyber Systems, Inc. (the Company) (OTC:OCSY) would like to inform shareholders that it is exploring an opportunity to purchase a working interests in a number of producing oil wells in California. This comes as a result of the Company’s many connections to the oil and gas sector -- one of which is Michael Russel who sits on the Company’s Board of Advisors. Mr. Russel is the Chairman of the American Petroleum Institute (Houston Chapter). Any transactions would be structured as an asset purchase and operate as a separate division or wholly owned subsidiary. This opportunity has an upside production of approximately 150 BOPD which roughly equates to $10,000 per day or $300,000 per month.
This new proposed opportunity in no way impairs the current cybersecurity business or the recently announced planned acquisition of a security and protection firm based in Houston, Texas. Each operation will be run as a separate division or wholly owned subsidiary with independent cost centers allowing for the possibility to spin off at a later date.
Management, after its Initial due diligence has established that there is a significant opportunity in the oil and gas sector to purchase producing assets, not only in California but also across the US. The goal would be to become a mid-tier oil and gas producer by acquiring producing assets that are too small for the majors with a target of $10 million in gross revenue within the first two years.
“This unique opportunity came about because of our strong relationship within the oil and gas sector and recent announcement that we are developing a cyber security application for the Saudi oil industry,” commented George Rutherford, President of Optium Cyber Systems. “At the end of the day, the number one priority for management is to build shareholder value and the opportunity to enter the oil and gas sector does just that. This new potential acquisition will substantially increase our revenues and cash flow while providing additional built-in vertical markets not only for our cyber security services but the security and protection business as well. It is a win-win all the way around,” continued Mr. Rutherford.
About Optium Cyber Systems, Inc.
OCSI has developed a proprietary process to analyze, identify and address cyber security vulnerabilities in an organization’s critical IT infrastructure, which is scalable to any size organization in any industry. OCSI has recently launched in the health care sector, focusing on protecting health care facilities including hospitals, nursing homes and doctor’s offices from cyberthreats such as the manipulation of medical devices or theft of patient records. OCSI is a publicly traded company having its common shares quoted on the OTC Markets under the symbol "OCSY".
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Optium Cyber Systems, Inc.'s filings with OTC Markets, which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
Safe Harbor Statement
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: GlobeNewswire
(August 30, 2018 - 8:00 AM EDT)
