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All State Properties Holdings in Negotiations to Acquire Oil and Natural Gas Reserves

^{Published on 2011-09-21 07:37:42 - Market Wire}
 

LEXINGTON, Ky.--([ BUSINESS WIRE ])--[ All State Properties Holdings, Inc ]. (Pink Sheets: ATPT) announced today that the Companya™s Management Team is in negotiations to the acquisition of [ Midwest Energy Management ], LC, (MEM) a Missouri Limited Liability Company headquartered in Memphis, TN. MEM manages Midwest Energy Ventures, LC which owns Travell Energy, Inc. located in Bowling Green, KY. Travell has been in the oil and gas business for over 20 years and has controlled over 4,000 acres in oil and natural gas leases with over $2 billion in reserves.

If the Acquisition is successful, All State Holdings will use shares and debt to acquire goodwill and possible tax losses in Midwest Energy Management. All State Holdings plans to utilize Midwest and Travell as a catalyst for its entry into the oil and natural gas business in Kentucky.

In addition, other potential candidates in the states of Kentucky and Oklahoma have been identified as targets for future acquisitions.

Forward Looking Statements

One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. All State Properties Holdings, Inc. urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.