LONDON, Ky.--(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
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
• 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.
Mark E. Holbrook, President
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
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, 606-864-3161
Source: Puissant Industries, Inc.