Puissant Industries Inc. Announces 56% Revenue Gain in its Quarterly Period Ending March 31, 2014 Compared with its March 31,...
June 03 2014 - 9:00AM
Business Wire
Puissant Industries, Inc. (OTCBB: PSSS) (“Puissant” or the
“Company”) (Corporate Website: psss.co), an independent energy company currently
focused on the natural gas and liquids rich portion of the Devonian
shale play in Eastern Kentucky, today announced that it for the
three months ended March 31, 2014, the Company generated revenues
of $173,746, consisting of $163,430 in oil and gas production and
$10,540 in royalty income. Compared to total revenues of $110,947
for the period ending March 31, 2014, the Company increased its
revenues by $62,799, representing an increase of 56% in total
revenues.
Mark Holbrook, Puissant’s Chief Executive Officer commented: “We
are pleased with our increasing revenue growth, which is consistent
with our business plan to grow our cash flow to increase our
drilling activities, reserves and oil and gas liquids
production.”
About Puissant Industries, Inc.Puissant Industries, Inc.
is engaged in oil and gas exploration and development activities in
fractured shale formations located in Eastern Kentucky. Puissant’s
business strategy is to grow its reserves, production and cash
flow on a cost-efficient basis. The key elements of this business
strategy include:
• Developing and exploiting Puissant’s existing properties with
a multi-year drilling program in the Appalachian Basin Devonian
Shale;
• Maintain long-life reserve base by focusing on acreage
acquisition and development activities on resources that target
long-life gas and oil reserves; and
• Use a disciplined financial approach to be financially strong,
yet flexible, through the prudent management of our balance sheet
and active management of commodity price volatility.
Contact:
Mark E. Holbrook, PresidentPhone: 606-864-3161E-mail:
mh857@aol.com
Disclaimer:This press release contains forward-looking
statements. The words or phrases "would be," "will allow," "intends
to," "will likely result," "are expected to," "will continue," "is
anticipated," "estimate," "project," or similar expressions are
intended to identify "forward-looking statements." Actual results
could differ materially from those projected in the Company’s
business plan and the information presented above. The information
contained in this press release should not be construed as an
indication in any way whatsoever of future production levels, the
future value of the Company’s common stock, future revenues or our
present or future financial condition. You should be aware that the
SEC does not permit the above values in computing the Company’s
assets on the Company’s balance sheet. The Company's filings may be
accessed at the SEC's Edgar system at www.sec.gov. This press release should be read in
conjunction with the Company’s Form 10-Q report for the period
ending March 31, 2014 and our Form 10-K report for our fiscal year
ending December 31, 2013, which are available at sec.gov.
Statements made herein are as of the date of this press release and
should not be relied upon as of any subsequent date. The Company
cautions readers not to place reliance on such statements. Unless
otherwise required by applicable law, we do not undertake, and we
specifically disclaim any obligation, to update any forward-looking
statements to reflect occurrences, developments, unanticipated
events or circumstances after the date of such statement.
Puissant Industries, Inc.Mark E. Holbrook,
606-864-3161Presidentmh857@aol.com
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