WINSTON-SALEM, N.C., April 6, 2010 (GLOBE NEWSWIRE) -- Plateau Mineral Development, Inc. (Pink Sheets:PMDP) announced today that the acquisition of Matthews Energy Investments (MEI) has been completed. All documentation has been signed, giving Plateau the rights to MEI's properties and assets.
MEI is a development management company that receives income from successful projects. Three current sources of income for MEI are from oil and gas projects in Kentucky, Oklahoma and Michigan; all of which have a positive cash flow.
This acquisition is the final stage in the transfer of a set of productive oil and gas properties from MEI to PMDP.
Robert Matthews of Plateau Mineral Development, Inc., states, "We're happy to announce the finalization of the acquisition. Now that it's done, we can harvest the oil and continue concentrating on our other income-producing projects, including the tire converter."
About Plateau Mineral Development, Inc.: Plateau Mineral Development has been in existence for over five years.
Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.