MONTREAL, April 12, 2005 (PRIMEZONE) -- Bio-Tracking Security Inc. (Pink Sheets:BTSI) announced today that the company has begun discussions with Nord Oil Corporation to acquire oil and gas properties.
After several years trying to establish a form of recurring revenue and create shareholder value, management have decided to explore the possibilities of acquiring oil and gas assets from Nord Oil, whom are very open to the opportunity of working with a U.S. publicly traded company such as Bio-Tracking Security Inc.
"We are very optimistic as to the potential of these discussions; Nord Oil have great properties in the Samara region of Russia, one of the most mature oil and gas regions in the world," said Jean-Francois Amyot, Bio-Tracking Security's President. "We are in the process of hiring additional management with experience in the oil and gas field to help with negotiations and in the event negotiations are favorable, an engineering group will be hired to perform all on-site due-diligence," further added Mr. Amyot.
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A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.