ROCKVILLE CENTER, NY, May 04, 2018 (GLOBE NEWSWIRE) -- Supernova Energy, Inc. (OTC PINK: SPRN) ("Supernova" or the "Company"),
an American based oil and gas production and exploration company, looks to engage in asset evaluation and reserve calculations for
its currently held oil and gas interests in Kansas.
Supernova Energy, Inc. holds various working interests in several oil and gas wells in multiple counties in the state of Kansas.
Supernova plans to engage an independent 3rd party to assess and evaluate the current producing and non-producing leases to better
direct the capital expenditures of Supernova over the next 12 months. The purpose is three-fold:
- Deploy capital in an effective and beneficial way. Allowing to exploit current assets to their full potential.
- Complete a reserve report to assign accurate asset values for all lease holds.
- To identify leases Supernova should increase ownership in.
- To identify leases, if any, that Supernova should divulge because of unviability. Clearing liabilities and expenses from the
balance sheet.
Kevin Malone, CEO of Supernova Energy, states, “With the current uptrend in oil prices I believe now is a good time to increase
spending on lease improvements and ownership. Supernova will be completing a capital raise in the near future and wants to be
prepared with a concise deployment of capital for the best return to increase revenue and shareholder value.”
About Supernova Energy, Inc.
Supernova Energy Inc. 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
Contact: Supernova Energy Inc. Kevin Malone Ceo@supernovaenergyinc.com
