Ness Energy International, Inc. engages in the exploration, production, marketing, and transportation of oil and natural gas in Israel and the United States. The company holds existing mineral rights in Texas, including the Fort Worth Basin in Parker, Hood, Shackelford, Jack, Wise, and Palo Pinto counties in the United States. It also develops and exploits mineral deposits in the Lahava field in Israel. As of December 31, 2006, Ness Energy had proved reserves of 168,000 barrels of oil and 42,903,000 thousand cubic feet of gas. It sells its products to intermediaries. The company, formerly known as Kit Karson Corporation, was founded in 1979 and is based in Weatherford, Texas with an additional office in Netanya, Israel.
Shares Outstanding: 179.78M
Float: 119.45M
Ness Energy Announces New Board of Directors and Shareholder Meeting
Hit .20 today up 28% Broke a 14 month high today
September 25, 2007: 03:20 PM EST
WEATHERFORD, Texas, and NETANYA, Israel, Sept. 25 /PRNewswire-FirstCall/ -- Ness Energy International, Inc. announced today that its former board members have resigned and a new interim board has been appointed.
Former Ness Energy International, Inc. board members Dr. Richard Nash and Mark Bassham have resigned from their positions as directors. Newly appointed CEO and Chairman of the Board Anthony Allenby has appointed 2 new directors to fill the vacancies. Mr. Allenby has appointed Dr. Yolanda Garcia, from the Dallas, TX area and Mr. George O'Donnell, from the Houston, TX area.
CEO Allenby comments "I have appointed a board, with the two honorary positions being gratefully accepted. Both individuals fear God and walk with great wisdom and discernment. I am certain that each will be a huge asset to the Company in fulfilling its strategic objectives, the great Vision and ensuring good governance."
According to established company by-laws these two individuals will serve on the board until such time as a shareholder meeting is held and new board members are elected.
Shareholder Meeting
A Ness Energy International Shareholder meeting has been scheduled for Monday November 5, 2007 in the Dallas, TX Area. Plans are being finalized and will be announced in the coming weeks. As is required by company by-laws, formal notification will be sent to Ness shareholders announcing the time, date and agenda for the meeting.
About Ness -- The Vision
Ness Energy is involved with oil and gas interests in North America. Ness is also an active player in the energy industry in Israel, carrying out The Vision of The Company. 'The Vision': that Israel, in particular the Dead Sea region, is a place where "Science and The Bible shake hands" and that Ness will achieve realization of The Vision through the location and recovery of an abundant supernatural source of oil and gas in Israel for The Nation of Israel.
Forward-Looking Statements
This news release includes forward-looking statements. Actual results could differ materially from those contemplated by such forward-looking statements as a result of any number of factors and uncertainties, many of which are beyond the control of the company. Important factors that could cause actual results to differ materially from those in such forward-looking statements are enumerated in the company's registration statement filed with the Securities and Exchange Commission. Undue reliance should not be placed upon any forward-looking statements, and the company undertakes no obligation to update those statements.
Visit us on the web at
http://www.nessenergy.com
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