VANCOUVER, British Columbia, May 4, 2006 (PRIMEZONE) -- Stafford Energy, Inc., ("Stafford") (Pink Sheets:SFDE), is pleased to announce that it has entered into a Share Exchange Agreement with Nucon, Inc. ("Nucon"), a Nevada company. Nucon is focused on high-end environmental markets in the Former Soviet Union and Asia, with executive and operations offices located in Moscow, Russia. Under the terms of the share exchange agreement, Stafford will acquire 22,500,000 common shares of Nucon representing 100% of Nucon's outstanding common stock in exchange for 22,500,000 shares of Stafford's common stock. Prior to closing of the share exchange, Stafford will effect a 275 to 1 share consolidation that has been approved by consent resolution of the Stafford directors and shareholders holding 55% of Stafford's voting common shares. Following the consolidation, the issuance of 22,500,000 shares to acquire Nucon and the issuance of 3,000,000 post consolidated debt settlement shares, Stafford will have a total of 25,858,647 common shares issued and outstanding.
The Company will be changing its name to NUCON-RF, Inc. following closing of the share exchange.
Nucon has established alliances and contracts with Russian Federal government agencies responsible for the domestic and export nuclear industries, including a contract as project partner with Atomstroyexport, www.atomstroyexport.ru/index-e.htm to provide materials, technologies and services for the Chernobyl Shelter Implementation Plan in Ukraine. Nucon has the capability to provide product, technological and engineering support for environmental and radioactive waste challenges including compliance, shielding, transport and storage requirements for a broad range of radioactive and toxic wastes. For more information on the company please visit its web site www.nucon-rf.com
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.