PRESS RELEASE: For Immediate Release.
Friday, October 13 th , 2006
Palm Beach Gardens ,
FL. , October 13 th , 2006 (Market Wire-Via COMTWX News Networks):
Nevtah Capital Management (NTAH-OTC) today announced that
the Company and its joint venture partner, Black Sand Energy,
have been invited to participate in Sachs' Global Resources
Capital Forum in London and Zurich this month.
Nevtah and Black Sand have been invited to provide
their corporate presentation to a select group of qualified
institutional investors, analysts, fund managers, bankers
and financial media at both conferences.
The London Forum
www.mbendi.co.za/sachs/events/e3om.htm),
sponsored by the London Stock Exchange, will be held in
London on October 17 th and 18 th . The Zurich Forum (www.mbendi.co.za/sachs/events/e3ol.htm),
sponsored by the SWX Swiss Exchange, will be held in Zurich
on October 19 th and 20 th . These invitation-only conferences
provide a forum for leading resource and energy corporate
presenters, online one-to-one meeting systems and a series
of analyst and industry roundtables. The Company regards
these conferences as a valuable vehicle for exposure of
the joint venture partners' patented, closed-loop technology
for oil sands extraction and an opportunity to network
with decision makers and industry counterparts, as well as
a medium to expand their investor base and analyst coverage
throughout Europe.
The Company also wishes to update details
on the joint venture with Korea Technology Industry Co. Ltd.,
(KTI), originally announced in its press release dated October
6 th , 2006 (“Nevtah/Black Sand Energy Sign Letter of Intent…..”).
As Nevtah/Black Sand Energy's investment partner, KTI will
provide $ 10 million USD to develop the joint venture partners'
leases in the state of Utah, encompassing multiple leases which
may include the areas of Asphalt Ridge, Sunnyside, PR Spring
and Whiterocks. In return, the joint venture will produce
up to a maximum of 100,000,000 barrels of oil on a best efforts
basis over a mutually agreed period of time. The oil will
be delivered to refineries in Salt Lake City , where it will
be refined and sold at market prices.
KTI will receive 50% and Nevtah/Black Sand
will receive 50% of the net profits after all operating costs
are subtracted. Nevtah and Black Sand will utilize the cash
injection for the purchase of additional leases, technology
enhancement, unit construction or infrastructure costs such
as surveying, core drilling or road building. Demonstrations
of the joint venture partners' operating production plant and
negotiations with other potential joint venture partners and
private land owners in the Utah Oil Sands areas are currently
being held in Oklahoma . Nevtah and Black Sand are continuing
their search for additional quality oil sand property leases.
Nevtah Capital Management adheres to the provisions,
regulations and specifications of the Safe Harbor Act.
Contact:
Paul Davey
Investor Services
(778) 389-0915
info@nevtahoilsands.com
Mr. Daniel P. Kesonen
President & CEO
Nevtah Capital Management Inc.
(561) 626-9901
For more information,
please contact:
Daniel P. Kesonen President & CEO
Nevtah Capital Management Corp.
(561)
626-9901
