CARSON CITY, Nev., May 4, 2004 (PRIMEZONE) -- Stafford Energy, Inc., ("Stafford") (Pink Sheets:SFDE), has executed a binding Letter Agreement (the "Agreement") with Abucco Technologies Inc. ("Abucco"), a private company incorporated under the laws of the Province of British Columbia, whereby Stafford will acquire all of the issued and outstanding shares of Abucco in exchange for receiving the equivalent of 100% of the issued and outstanding shares of Stafford prior to the acquisition of Abucco being completed, which shares of Stafford will be issued pro rata to the shareholders of Abucco on the closing date. The Agreement is subject to the satisfactory due diligence by both Stafford and Abucco, as well as Abucco receiving the approval from its shareholders. Stafford and Abucco intend to enter into a more formal share exchange agreement and other documents that more fully delineate and formalize the terms outlined in the Agreement.
Abucco is in the business of high technology security, access and telemetry monitoring and control over the Internet and wireless networks. For more information about Abucco, please see Abucco's website at www.abucco.com.
Stafford intends to continue to update its shareholders and the marketplace as newsworthy events occur.
Safe Harbor Statement:
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding announcements of financial results, business potentiality and other prospective presentations by Stafford. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products in domestic and international markets will continue to expand. Stafford undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in Stafford's expectations with regard to these forward-looking statements or the occurrence of unanticipated events.