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Mass Petroleum Inc.: MASS Petroleum Engages Third Party Consultant to Complete Due Diligence

^{Published on 2009-10-07 05:37:45 - Market Wire}
 

LAS VEGAS, NV--(Marketwire - October 7, 2009) - (OTCBB: [ MASP ]) (FRANKFURT: 0MP) MASS Petroleum is an oil and gas production company backed by an experienced and dedicated management team. MASS Petroleum is engaged in the acquisition of producing oil and gas projects to build its reserves and ensure sustainable growth through focused project development and acquisitions.

MASS Petroleum Inc. is pleased to announce it has engaged the services of Marlin Consulting Corporation of Alberta, Canada, to complete the due diligence work on the Girouxville project.

The due diligence program typically will include a review of the following:

 -- Overriding royalties currently in place -- Severe cost overruns that may encumber the asset moving forward -- Prior programs that ran out of money, and wells or prospects had to be farmed out to subsequent partnerships -- Particular weakness in technical expertise (for example, little or no reservoir engineering or geophysical capability) -- Review of operating statements for discrepancies 

We anticipate the final due diligence phase to be completed shortly and will provide a summary of the results in an upcoming news release. Following the completion of the due diligence phase the Company intends to move ahead with the financing of the Girouxville transaction.

On behalf of the Board of Directors,

Gary Chayko

President, MASS Petroleum Inc.

About MASS Petroleum Inc.

MASS Petroleum is an oil and gas production company backed by an experienced and dedicated management team. MASS Petroleum is engaged in the acquisition of producing oil and natural gas wells, interests and leases from existing companies, governments, and through the open market.

The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.