Critical Point Resources, Inc. - announces the appointment of George D. Hennessey as Vice-President.

Critical Point Resources, Inc. announces today with great pride that it we have engaged the services of a new Vice President. George D. Hennessey earned his B.S. in Geology at Arizona State University in 1960.
 
May 21, 2009 - PRLog -- SPOKANE, Washington, -- Critical Point Resources, Inc. (NASDAQ- CRPI.PK) (www.getcriticalpoint.com). The company is Issuing this “Press Release” to keep investors abreast of recent developments that may potentially have an impact on current operations.

Critical Point Resources, Inc. announces today with great pride that it we have engaged the services of a new Vice President.  George D. Hennessey earned his B.S. in Geology at Arizona State University in 1960 and has post-graduate education at Brigham Young University in the area of Accounting and Business Management.

Since 1977, Mr. Hennessey has been a consultant for Major Mining Companies, Private Corporations, Investment Groups and Individuals, relative to mineral exploration, mineral property evaluations, acquisitions, and dispositions. He has an extensive background with the preparation of environmental impact Statements and analysis.

Mr. Hennessey has worldwide expertise in international trade and marketing of natural resource products, precious metals and specifically Uranium exploration, development and mining. He has extensive work experience overseas, which has included the Philippines, the People’s Republic of China, Southeast Asia, New Zealand, Australia, Central and South America and Africa.

“We’re very pleased and excited that we have Mr. Hennessey rejoin the management team of Critical Point Resources said Sam Roberts, Critical Point’s Secretary, Treasurer, and member of the search committee. With proven abilities, and diverse experience, Mr. Hennessey is ideally suited to position the talent and resources of the entire corporation.”

The company wants to reiterate the significant events of the last few days. Critical Point Resources, Inc. has signed a Joint Venture Agreement with Drilling Consultants, Incorporated.  This agreement covers a mutual interest in the development of DCI’s “HP Claims” La Sal Creek, and DR and Doc Properties, Utah mineral properties. As well the parties agree to enter and finalize a mutually beneficial, definitive and formal “Mineral Exploration, Mining Joint Venture and Development Agreement”.

The initial properties or claims shall consist of 16 lode mining claims located in the La Sal Creek mining district of San Juan County, Utah. These properties are described as the “HP Claims”, and if certain assumptions about the historical data in regards to these claims are accepted, then the property could be interpreted to contain about 950,000 pounds of U3O8 and about 5,700,000 pounds of V2O5.

The “DR and Doc” properties, two claim blocks located 1.8 miles apart makeup the second group of claims addressed by this initial agreement. Both of these subject properties show considerable potential for significant development potential as well.

These claims were located for their potential to contain valuable deposits of uranium and vanadium.  The mineral potential is supported by the geology of the mining district; the geology and mineralization of three inactive adjacent properties that have produced uranium - vanadium ores; an adjacent discovery of uranium mineralization described in published a U.S. Geological Survey report.
About Critical Point Resources, Inc. -- The Company primarily engages in the exploration, acquisition and development of Uranium and Vanadium properties in the Western United States of America.

Critical Point Resources, Inc. has identified several project properties as potential and current acquisitions within the Uravan mineral belt: The Company's Management and Consulting Team have a strong exploration background -- from discovery through to mine development and production.

The Company has invested in participations in three oil and gas wells, all located in the State of Texas.  The first of these, the Edgmon-Cameron H12, located in Lee County, Texas, was intended to have a second lateral drilled below the existing lateral.  The operator of this well is convinced that this new lateral will result in substantial new production, possibly as much as 500 to 1,000 BOE per day; however, the majority owner of the well (75%) desired to have the well shut in.  At the time this well was shut in, it was producing approximately 200 MCF of gas and 20 BBL of oil per day.  The operator is attempting to persuade the majority owner to permit the re-opening of the well and the drilling of the new lateral.

The second of these wells is the Jackie Beeson #2 also located in Lee County, Texas.  This well is currently averaging approximately 400 BBL of oil and 300 MCF of gas per month.  The operator is convinced that the drilling of an additional lateral will result in a substantial increase in Production.

The Company’s most recent investment was a participation in a well being drilled in Matagorda County, Texas by Northstar Energy of Dallas, Texas.  This well resulted in a dry hole and was closed.

FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties and the Company assumes no obligation to update any of the forward-looking statements in this release.

# # #

Critical Point Resources, Inc. -- The Company primarily engages in consulting, acquisition, exploration, and development of mining properties, as well the group evaluates projects within the renewable biomass and conventional energy sectors.
End
Critical Point Resources, Inc. News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share