Adventure Energy, Inc. announced that the Company’s name change to US Natural Gas Corp would become effective today, April 14, 2010 at the open of business. Their new trading symbol will be “UNGS” on the OTC Bulletin Board.
Mr. Wayne Anderson, President of US Natural Gas Corp. stated, “We are pleased to have completed our corporate name change to US Natural Gas Corp and believe that this new name properly reflects our primary business operations in the Appalachian region. We look forward to sharing future corporate developments with our shareholders.”
The Company is also working towards the closure of the recently announced acquisition of Wilon Resources, Inc. Holders of Wilon’s common stock will now receive shares and warrants of US Natural Gas Corp. The Company will update shareholders, when FINRA provides them additional information. The Company changed their name after the acquisition of Wilon Resources Inc.
Last week, US Natural Gas Corp announced that they acquired additional leases and mineral rights in Wayne County, West Virginia. They acquired two leases totaling 100 acres adjacent to their current proven and producing leaseholds. The Company will maintain an 87.5 percent net revenue interest in each of the leases. They also purchased approximately 175 acres of mineral rights. The division of these is across three tracts in Wayne County, West Virginia.
US Natural Gas Corp, based in St. Petersburg, Florida, is an independent energy company with operations in the Appalachian Basin. They engage in the acquisition, exploration and development of mature long-lived oil and natural gas properties.
The concentration of the Company’s current operations is in the Appalachian Basin in Kentucky and West Virginia. They focus their business activities mainly on exploration and drilling. Their primary focus is also on the acquisition of proven developed and underdeveloped properties and on the enhancement and development of these properties.