Financial Results Revenue for the fourth quarter was $648,000, a 38% sequential increase as compared to the third quarter. Revenue for the fiscal year 2011 ended February 28, 2011, which consisted of the Company’s first 3 full quarters of operation, was $1.48 million; with no comparable prior year comparison. Revenue by channel for the year end was 18.3% direct and 81.7% indirect and for the fourth quarter was 32.8% direct and 67.2% indirect.

“During the fourth quarter we saw continued growth as we apply significant resources to develop our sales and marketing capabilities from both a tactical and strategic perspective. In addition, our industry is continuing to expand rapidly. Combining our sales and marketing efforts with the rapid expansion of the wind power market, positions us well to become a market leader for small wind power systems and renewable and clean energy solutions,” said Frank P. Greco, CEO and President.

Quarterly Business Highlights

--  Introduced new Micro-Generation Utility Model and signed first 3
    customer contracts in the amount of $1.1 million
--  Achieved MCS certification in the United Kingdom becoming 1 of only
    six small wind turbine companies globally to achieve this
    certification and thereby permission to sell our systems in the UK.
--  Launched UK-based direct sales program and released WindRx renewable
    energy software to provide economic value proposition to customers for
    the UK market
--  Signed first European Order (5 units), as well as acquired CE Mark
    certification, and formed European subsidiary to capitalize on the
    European market.
--  Released the company's next generation 10-kilowatt turbine small wind
    power system, the XZERES 442SR, possessing a dynamic, intelligent
    controller to boost annual energy output by up to 20 percent and
    improve overall system reliability

Sales by Geography and New Target Markets Since inception through the fourth quarter and full year ended February 28, 2011 (the Company’s first three full quarters of operation), the Company shipped its small wind power systems to the following states: Oregon; California; Colorado; Iowa; Kansas; Massachusetts; Michigan; New Jersey; New York; Oklahoma and Texas. During the first quarter of fiscal year 2012 (the quarter ending May 31, 2011), we expect to ship to additional states as well as internationally, including the countries of United Kingdom, Australia and India. During the course of calendar and FY 2012 we expect to ship to many more states and countries as we continue to aggressively expand our sales and marketing efforts domestically and internationally. In terms of target markets, during the first 3 full quarters of operation, we focused on the small business market, farms and ranches. During FY 2012, in addition to these markets, we will begin to actively pursue the Federal market, including civil and military opportunities. While contracts for sales to these markets possess long lead times, sales are often for multiple unit quantities and therefore relatively large as compared to non-project based sales. The Federal market consists of what is potentially the largest segment of purchasers of renewable and clean energy in the world. We expect to see this business begin to be realized during our fiscal fourth quarter ending February 28, 2012 with full year impact during FY 2013.

Product Development XZERES is developing a new generation of distributed generation small wind power systems to complement our 2.5kW and 10kW devices. We will not disclose the respective device sizes of this product family until we release these units for production and such will remain highly confidential until that time, for competitive reasons. In addition, despite just recently acquiring the Rochester Power Saver Inc. line of power management and power efficiency products, we have already begun developing new and innovative technology for this entire product family, which we believe will materially improve the benefits and value proposition to our largely commercial and light industrial customers and will be superior to that of most, if not all of our competitors within our target market place. As is the case for the Company’s small wind power systems business, the power management and power efficiency sales model utilizes both direct (sold by XZERES) and indirect (via dealers) channels.

Business Model Approach XZERES has taken a system integrator approach to its business combined with a service-centric vertical integration program in order to provide complete solutions to our customers. We design, develop, manufacture, test, assemble and market our systems. In addition, we provide site assessment, customer financing, assistance with government-based financial incentives and local permitting, application engineering, installation, support and maintenance. And now we will begin to offer “tip-to-tower” insurance to our wind turbine customers to enable them to protect their valuable energy producing investment over the 20 year useful life of their system. This is what makes XZERES a solutions provider and enables us to provide the highest value to our customers. We have made this progress within the 1st year of operations and expect even more significant accomplishments during the 2012 fiscal year, as we crusade to become the market leader in the small wind industry and provide substantial shareholder value for our stakeholders.

Financial Outlook We are now seeing a dramatic increase in demand for our small wind power systems, as compared to the first three full quarters of operations. In addition, initial sales in the UK for these systems is beginning to accelerate. Moreover, we have meaningful opportunities in Asia, which we hope and expect to exploit over the course of this current fiscal year (FY 2012) and beyond. Of most immediate interest is our recent activity in Vietnam where we are actively pursuing some large micro-grid island electrification projects and desalination projects powered by small wind turbines. Our goal (not a guarantee) for FY 2012 ending February 28, 2012, is to significantly more than quadruple our revenues, as compared to the recently completed fiscal year 2011. During FY 2012 we expect that the revenue by channel ratio of direct compared to indirect business to continue to increase and potentially be predominantly direct business with a minority indirect, as we continue to provide a systems integrator approach to our customers. Finally, despite potential quarterly fluctuations, on an annual basis, we expect gross margins to rise substantially from current levels over the next two fiscal years, as we develop, acquire and deploy new products, services and business models.

For more information about XZERES or any of its products, please visit www.xzeres.com and www.xzeresenergy.com

About XZERES:

XZERES Corp designs, develops, manufactures and markets distributed generation, wind power systems for the small wind (2.5kW-100kW) market as well as power management solutions. Our grid connected and off grid wind turbine systems, which consist of our 2.5kW and 10kW devices and related equipment, are utilized for electrical power generation for applications and markets such as residential, micro-grid based rural and island electrification, agricultural, small business, rural electric utility systems, as well as other private, corporate infrastructure and government applications. Our wind power systems are focused on distributed energy, where a specific machine’s energy output is largely or entirely used on-site where the equipment is installed, as well as grid connected applications. While many of our customers take advantage of their local net-metering rules within the United States and Feed In Tariffs that are often available in Europe and Internationally (to sell power back to the grid), our wind power systems are not dependent on transmission needs to carry the energy produced to another location and are therefore well suited for remote electrification, available with or without a battery coupled solution. Our power management solutions are deployed primarily for commercial and light industrial applications, and secondarily residential usage and target both urban and rural customers. For more information please see the Company’s web site atwww.xzeres.com and www.xzeresenergy.com

Forward Looking Statements and Safe Harbor Statement:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. XZERES Corp. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These “Forward-looking statements” are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, projections about our future results included in our Exchange Act reports, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes,” “can,” “could,” “estimates,” “expects,” “goals,” “forecasts,” “hopes,” “intends,” “may,” “plans,” “projects,” “targets,” “will,” and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as new business models, new products, product enhancements, new technologies, sales levels, expense levels and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, regulatory and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: (a)new business models may be more difficult and/or take longer than anticipated, may be more costly than anticipated and may have unanticipated adverse effects relating to the Company’s business; (b) the challenge of compensating and retaining key employees; (c) the impact on the Company and our customers from the current domestic and international economic, geo-political and financial market conditions; (d) the success of our new products and new business models in achieving their expected benefits; (e) to perform as expected without material defects; (f) to be qualified and accepted by our customers, (g) to successfully compete with products, systems, technologies and services offered by our competitors; (h) we may not be successful in undertaking the steps currently planned in order to further develop the business; and (i) other risks and uncertainties described in our filings with the Securities and Exchange Commission.

Neither XZERES Corp. management nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and subsequent facts or circumstances may contradict, obviate, undermine, or otherwise fail to support or substantiate such statements. We caution you not to rely on these statements without also considering the risks and uncertainties associated with these statements and our business that are addressed in our filings with the Securities and Exchange Commission that are available on the SEC’s web site located at www.sec.gov. Certain information included in this press release may supersede or supplement forward-looking statements in our other Exchange Act reports filed with the SEC. We assume no obligation to update any forward-looking statement to conform such statements to actual results or to changes in our expectations, except as required by applicable law or regulation.

For more information about XZERES Corp. or any of its products, please visit www.xzeres.com

About XZERES Corp.:

XZERES Corp. designs, develops, manufactures and markets distributed generation, wind power systems for the small wind (2.5kW-100kW) market. Our grid connected and off grid wind turbine systems, which consist of our 2.5kW and 10kW devices and related equipment, are utilized for electrical power generation for applications and markets such as residential, micro-grid based rural electrification, agricultural, small business, rural electric utility systems, as well as other private, corporate infrastructure and government applications. Our wind power systems are focused on distributed energy, where a specific machine’s energy output is largely or entirely used on-site where the equipment is installed, as well as grid connected applications. While many of our customers take advantage of their local net-metering rules within the United States and Feed In Tariffs that are often available in Europe and Internationally (to sell power back to the grid), our wind power systems are not dependent on transmission needs to carry the energy produced to another location. For more information please see the Company’s web site at www.xzeres.com

Forward Looking Statements and Safe Harbor Statement:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. XZERES Corp. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These “Forward-looking statements” are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, projections about our future results included in our Exchange Act reports, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. These forward-looking statements may be identified by the use of terms and phrases such as “anticipates,” “believes,” “can,” “could,” “estimates,” “expects,” “forecasts,” “intends,” “may,” “plans,” “projects,” “targets,” “will,” and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as new business models, new products, product enhancements, new technologies, sales levels, expense levels and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, regulatory and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: (a)new business models may be more difficult and/or take longer than anticipated, may be more costly than anticipated and may have unanticipated adverse effects relating to the Company’s business; (b) the challenge of compensating and retaining key employees; (c) the impact on the Company and our customers from the current domestic and international economic, geo-political and financial market conditions; (d) the success of our new products and new business models in achieving their expected benefits; (e) to perform as expected without material defects; (f) to be qualified and accepted by our customers, (g) to successfully compete with products, systems, technologies and services offered by our competitors; (h) we may not be successful in undertaking the steps currently planned in order to further develop the business; and (i) other risks and uncertainties described in our filings with the Securities and Exchange Commission.

Neither XZERES Corp. management nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and subsequent facts or circumstances may contradict, obviate, undermine, or otherwise fail to support or substantiate such statements. We caution you not to rely on these statements without also considering the risks and uncertainties associated with these statements and our business that are addressed in our filings with the Securities and Exchange Commission that are available on the SEC’s web site located at www.sec.gov. Certain information included in this press release may supersede or supplement forward-looking statements in our other Exchange Act reports filed with the SEC. We assume no obligation to update any forward-looking statement to conform such statements to actual results or to changes in our expectations, except as required by applicable law or regulation.

Contact:

Tina Mortensen
XZERES Corp.
(503) 388-7331

“We’re pleased to be announcing these new partnerships with two very prestigious distributors. Both are major players serving many of the same customers we currently target,” stated Frank Greco, CEO. “We anticipate that both organizations could add significant new business in addition to our existing direct efforts within the U.S. and Canadian markets, thereby further broadening our distribution capabilities.” The XZERES 2.5kW and 10kW systems are now available for purchase through both of these distributors.

For more information about XZERES Corp. or any of its products, please visit www.xzeres.com

About XZERES Corp.:

XZERES Corp. designs, develops, manufactures and markets distributed generation, wind power systems for the small wind (2.5kW-100kW) market. Our grid connected and off grid wind turbine systems, which consist of our 2.5kW and 10kW devices and related equipment, are utilized for electrical power generation for applications and markets such as residential, micro-grid based rural electrification, agricultural, small business, rural electric utility systems, as well as other private, corporate infrastructure and government applications. Our wind power systems are focused on distributed energy, where a specific machine’s energy output is largely or entirely used on-site where the equipment is installed, as well as grid connected applications. While many of our customers take advantage of their local net-metering rules within the United States and Feed In Tariffs that are often available in Europe and Internationally (to sell power back to the grid), our wind power systems are not dependent on transmission needs to carry the energy produced to another location. For more information please see the Company’s web site at www.xzeres.com

Forward Looking Statements and Safe Harbor Statement:

The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. XZERES Corp. claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These “Forward-looking statements” are largely based on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Such forward-looking statements include, in particular, projections about our future results included in our Exchange Act reports, statements about our plans, strategies, business prospects, changes and trends in our business and the markets in which we operate. These forward-looking statements may be identified by the use of terms and phrases such as “anticipates,” “believes,” “can,” “could,” “estimates,” “expects,” “forecasts,” “intends,” “may,” “plans,” “projects,” “targets,” “will,” and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters such as new business models, new products, product enhancements, new technologies, sales levels, expense levels and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or our future financial performance and are subject to business, economic, regulatory and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements of our business or our industry to be materially different from those expressed or implied by any forward-looking statements.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: (a) new business models may be more difficult and/or take longer than anticipated, may be more costly than anticipated and may have unanticipated adverse effects relating to the Company’s business; (b) the challenge of compensating and retaining key employees; (c) the impact on the Company and our customers from the current domestic and international economic, geo-political and financial market conditions; (d) the success of our new products and new business models in achieving their expected benefits; (e) to perform as expected without material defects; (f) to be qualified and accepted by our customers, (g) to successfully compete with products, systems, technologies and services offered by our competitors; (h) we may not be successful in undertaking the steps currently planned in order to further develop the business; and (i) other risks and uncertainties described in our filings with the Securities and Exchange Commission.

Neither XZERES Corp. management nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and subsequent facts or circumstances may contradict, obviate, undermine, or otherwise fail to support or substantiate such statements. We caution you not to rely on these statements without also considering the risks and uncertainties associated with these statements and our business that are addressed in our filings with the Securities and Exchange Commission that are available on the SEC’s web site located at www.sec.gov. Certain information included in this press release may supersede or supplement forward-looking statements in our other Exchange Act reports filed with the SEC. We assume no obligation to update any forward-looking statement to conform such statements to actual results or to changes in our expectations, except as required by applicable law or regulation.

Media Contact:
Beckerman
xzerespr@beckermanpr.com
(201) 465-8007

For this consideration the Company paid a total of $10,000.00. This purchase now gives TX Holdings 100% of the revenue the Parks lease is currently generating that allows the Company more leverage in future expansion. The Parks Lease is currently producing between 60 to 90 barrels of oil per month. The Company fully expects to increase this to 150 or 200 barrels of oil per month before the year’s end.

In addition to the lease purchase, TX Holdings has also purchased an additional 2 acres with 2400 square foot of storage facilities on the property. The specific property purchased is described as lots 1-12, block 28 located in the Town of Putnam, Texas in close proximity to the Parks Lease. The property will be used for secure storage of the Company’s equipment used for maintenance and drilling.

TX Holdings remains committed to further developing the field while continuing its research for additional prospects that meet the profile that management has identified. The Company’s ongoing commitment to increase shareholder value through merger and acquisitions and joint venture opportunities has resulted in discussions with several significant acquisition candidates that could provide TX Holdings with exponential growth and positive outlook for 2011. For more detailed information please visit the Company’s Web page at:www.txholdings.com

About TX Holdings, Inc. TX Holdings; objective is to develop oil and gas fields that were under-developed in the 1970s due to oversight and antiquated extraction methods used during the original development of the wells at that time. Most of these reserves are now accessible and identifiable with modern production methods using high-tech data accumulation and analysis capabilities.

The Parks Lease is 320-acres and currently has 22 shallow wells. TX Holdings now has 100% working interest in this lease. To date we have reactivated 12 wells, 10 producers and 2 injectors. The current production averages 60-90 barrels a month. We are in the middle of a work-over and reactivation program to increase production. We anticipate 200-250 barrels per month within the next 12 months

Forward-Looking Statements Safe Harbor Statement under the Private securities Litigation Reform Act of 1995: The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the Company’s control with respect to market acceptance of new technologies, products and services, delays in testing and evaluation of products and services, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission.

Contact:
Henry Harrison
IR Pro 2.0
407-682-2001
hharrison@insidewallstreet.com
www.irprpro.com

According to management, based on current Jatropha bio-diesel prices and forecasted prices over the next five years, the company’s revenue should reach $178 million by year five, whereby a total cumulative sales of $356 million are expected, making the company one of the leaders in bio-diesel production.

“Our forecasts are very conservative and if we continue to increase our harvest and plantation acreages, we could easily surpass those figures,” said Manolo Tecson, CEO of GreenGold Ray Energies Inc. “The price for bio-diesel fuel will only increase due to the demand by world markets and again this will contribute the creation of a sustainable business for our shareholder for many years to come,” further added Mr. Tecson.

About GreenGold Ray Energies

GreenGold Ray Energies, Inc. (PINKSHEETS: GRYE) is a rapidly growing biodiesel, green technology, environmentally-friendly and alternative-renewable energy company. The Company has already solidified its position through a highly successful land acquisition program, acquiring large parcels of land through working alliances and joint venture partnership with landowners and growers, ideal for the cultivation of the jatropha curcas plant. Jatropha curcas grows almost anywhere, even on gravelly, sandy and saline soils. Jatropha oil can be processed to produce a high-quality biodiesel that can be used in a standard diesel car, while the residue can also be processed into biomass to power electricity plants.

Forward-Looking Statements Forward-looking statements in this release include statements regarding the Company’s projections regarding biodiesel, biofuels other alternative energy explorations and extractions in future periods. Penny Stocks are highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

When SNVP went public in April 3, 2009 they held three non producing wells. Since then the company has managed to complete their workover program on these wells and have achieved 40 BPD with the help of Lucas Energy which has a fractional interest in all four of their wells.

Lucas Energy (LEI) which currently trades at $2.00 a share on the AMEX acts as their operator which enables SNVP to execute their business plan without the overhead costs of employees, and the logistical concerns of scheduling, insurance and human resources.

Lucas Energy is currently a working interest partner in the Ali-O, Rozella Kifer and Zavadil properties and conducts the entire field operations associated with these three wells, including drilling, pumping, and transporting to Savoy Energy customers. In addition to these three wells the company also acquired a 144 acre lease in Gonzalez County. This lease gives SNVP access to the Eagle Ford Shale and the Austin Chalk Formation.

View all of SNVP’s current properties by visiting this link –http://www.savoyenergycorp.com/operations.html

Once your done reading this email, Google “Eagle Ford Shale” and you will see what a big deal it is to have a lease with access to that formation!

Our Due Diligence On (SNVP) Indicates That A Big Event Is Around The Corner.

According to their last 10k-A on page four(4) the company states, “We have also identified 48 other wells, ten that are producing and 34 that have been shut in but have seismic or other data indicating that they are favorable candidates for recompletion and workover.  We hope to acquire these potential assets in the next twelve months.”

To see the Filing for yourself, click here.

The last press release this company announced was a letter of intent to acquire 34 wells with 7 of them already producing. This acquisition would increase the amount of wellsSNVP owns and we believe it would increase their producing wells by 150%. The stock has undergone a quiet period and has become active in the last week which is indicating an upcoming breakout.

If the company acquires ½ of these wells, which they have identified, it would representover a 500% increase in their holdings. And if they manage to acquire all of the wells it would represent well over a 1000% increase in their holdings!

We are 11 months into SNVP’S 12 month forecast on the expected Acquisitions and coincidentally the stock has been showing positive movement with no news!

SNVP CHART

As you can see in the chart above, SNVP is clearly bouncing up off of its bottom and we feel this momentum will continue during Thursday trading and we could see a massive rally in shares of SNVP.

William A. Sawyer, President and Chief Executive Officer of Lucas Energy, said, “The acquisitions continue our business plan model to acquire and re-enter old wells and put them back on production. Instrumental in the plan is the acquisition of wells, and leases, which have upside potential in the Eagle Ford and Buda formations.” For more information on this and other activities of the Company, see the Lucas Energy web site www.lucasenergy.com.

Forward-Looking Statement

This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Act”) and Section 21E of the Securities Act of 1934, as amended (the “Exchange Act”). In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and Exchange Act, and are subject to the safe harbor created by the Act and Exchange Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward-looking statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to risks associated with the exploration and production of oil and natural gas; the volatility of oil and natural gas prices; uncertainties inherent in estimating oil and natural gas reserves; drilling risks; environmental risks; political or regulatory changes; the impact of competitive services and pricing, or general economic risks and uncertainties; and other risks disclosed in the Company’s periodic filings with the U.S. Securities and Exchange Commission. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date of this press release, and the Company takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. The Company’s complete filings with the Securities and Exchange Commission are available at http://www.sec.gov.

The Lucas Energy logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4192

This news release was distributed by GlobeNewswire, www.globenewswire.com

HOUSTON, Jun 3, 2010 (GlobeNewswire via COMTEX) — Savoy Energy Corporation (OTCBB:SNVP), an independent oil and gas company, announced today that it has entered into a Letter Of Intent with a privately owned oil and gas company to acquire a producing oil field located in an approximate 500-acre tract.
The Letter Of Intent is subject to completion of due diligence and the execution of a final Sale and Purchase Agreement. Under the Agreement, Savoy will have an 80% Net Revenue Interest in the field. The field currently has no less than 34 existing well bores that the Company believes are capable of production with 7 of those wells currently in production.

Savoy is advised that current production is logged at 60/70 BOPD and is being produced from three of five known field formations. The reports from engineers and geologists employed by a previous operator show that the geology of the field was well defined through the drilling, logging and coring of wells in the area. An existing reserve report projects that 1.3 to 1.6 million bbls of oil may be recoverable from the field.

Arthur Bertagnolli, CEO of Savoy Energy Corporation, stated, “The acquisition of this interest is consistent with our strategy of identifying and acquiring underdeveloped oil and gas interests. We believe that the remaining wells that can be returned to production at a favorable well intervention cost have the potential of achieving a production goal of 100 BOPD from the field.”

About Savoy Energy Corporation

Savoy Energy Corporation (OTCBB:SNVP) is an independent oil and gas company whose strategy is to build a diversified portfolio of oil and gas assets in the United States. The company is focused on identifying abandoned oil and gas assets, which are then brought online through re-completion and work-over activities. The company seeks to accomplish this through a process of evaluations and applications of modern well technologies and effective management controls. The company seeks to increase its asset base and cash flow, while significantly reducing the cost of initial drilling. By following this process, the company seeks to minimize the risk of traditional exploration projects and while limiting corporate overhead. For more information visit the Company’s web site at: www.savoyenergycorporation.com

Forward-Looking Statement

The statements in the press release that relate to the Company’s expectations with regard to the future impact on the Company’s results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Savoy Energy Corporation

By Staff

CONTACT: CONTACT: IR Pro 2.0
Henry Harrison
407-682-2001
hharrison@insidewallstreet.com

A company by the name of Savoy Energy Corporation may accomplish just that! Savoy Energy Corporation, which trades under the stock Symbol (SNVP:OTCBB) ,went public April 3 2009 with three non producing wells. Since then the company has managed to complete their workover program on these wells and have achieved 40 BPD with the help of Lucas Energy which has a fractional interest in all four of their wells.  Lucas Energy, which trades under stock symbol (LEI:NYSEAMEX) acts as their operator which enables Savoy Energy to execute their business plan without the overhead costs of employees, and the logistical concerns of scheduling, insurance and human resources.  Lucas Energy is currently a working interest partner in the Ali-O, Rozella Kifer and Zavadil and conducts all of the field operations associated with these three wells, including drilling, pumping, and transporting to Savoy Energy customers.

Savoy Energy is now on the brink of experiencing major growth! According to their last 10k-A on page four(4) the company states this,” We have also identified 48 other wells, ten that are producing and 34 that have been shut in but have seismic or other data indicating that they are favorable candidates for recompletion and workover.  We hope to acquire these potential assets in the next twelve months.”

This is significant due to the fact that the company currently owns 4 wells. If this were to materialize one can only speculate as to what the stock would do. If the company acquires ½ of these wells which they have identified it would represent over a 500% increase in their holdings, and if they manage to acquire all 48 wells it would represent well over 1000% increase in their holdings! It may be safe to assume that Savoy Energy Corporations(SNVP) assets and revenues may experience significant increases.

If Savoy Energy accomplishes their goals of acquiring these wells, what kind of an increase in assets and revenues would you expect the company to realize?

Disclaimer

In 1930, the East Texas Oil Field was discovered when the Daisy Bradford No. 3 well hit oil over 3,500 feet below the ground’s surface. The field proved to be enormous, the largest ever found at the time. It helped sustain the Allies’ petroleum needs in World War II and allowed for the construction of the Big Inch and Little Big Inch pipelines. To the present day this Texas oil deposit remains the biggest in the continental United States, both in area and in volume of oil recovered. Thus far it has produced over five billion barrels of oil and contains over 30,000 total wells.

Many other oil-rich areas were found and put into production after the East Texas Oil Field. Wells were drilled in western parts of the state and oil rigs were put to work in the Gulf of Mexico. By the 1940s Texas stood out as America’s clear leader in oil production. The Texas Oil Boom, as the era came to be known, boosted the state’s economy and transformed many rural regions into industrialized cities with growing populations.

After World War II and into the 1950s, more refineries and pipelines were constructed and updated to handle the incredible volume that the Texas oil fields produced. Techniques for extraction and management were advanced. The industry received another boost when natural gas began to be found in abundance as companies searched for new oil sources. Throughout the 1960s, Texas expanded its energy and petroleum industries as national demand increased not only for oil, but for other products and chemicals that are by products of oil.

Though the energy crisis of the 1970s had most of the world frightened and in an uproar, the period was actually beneficial to Texas as prices for petroleum skyrocketed. While many other states in the nation faced a serious recession, Texas experienced a population boom much like it had when the first gusher at Spindletop sprang out of the ground. The state emerged from the period as the second most populated in the United States.

Though the Texas economy today does not rely as heavily on its oil as it did in previous decades, the industry still plays a major role in the state. It remains the top crude oil producer in the nation and contains twenty-seven refineries to handle the still-massive amount of oil taken from the state’s reserves. Since the Oil Boom, Texas has increased all aspects of its energy industry, also leading the nation in natural gas, electricity, renewable energy such as wind power.