DALLAS, TX--(Marketwire - December 10, 2010) - Savanna East Africa, Inc. (
Yesterday, Savanna East Africa announced plans to spin off the Company's oil and gas operations in the first calendar quarter of 2011. Earlier this year, the Company announced executing an acquisition agreement to acquire a $1.4 million oil drilling asset to support the Company's plan to redevelop known oil reserves. The spinoff will contribute to increased focus on Savanna's business plan for Africa. Savanna is concentrated on developing a portfolio of potentially high growth companies concentrated on the East African market. Savanna has been organically developing technology and construction operations. Savanna has engaged technology projects in East Africa in partnership with other NewMarket Technology, Inc. (
The Webcast will be posted to the corporate website at www.savannaea.com and will be available directly at http://tinyurl.com/SEAWebcast upon release.
Savanna East Africa Information and Email Newsletter
To learn more about Savanna East Africa and to sign up for company email alerts, please visit the corporate website at www.savannaea.com.
About Savanna East Africa, Inc. (www.savannaea.com)
Savanna East Africa, Inc. (
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
Contact Information:
Contact:
Savanna East Africa, Inc.
214-722-3044