SILVER SPRINGS, NV -- (Marketwired) -- 01/16/15 -- American Leisure Holdings, Inc. (OTC PINK: AMLH) announced today that its wholly owned subsidiary, Wroblewski Oil and Gas Company, (WOGC), is in the final stages of due diligence to acquire a 24% Working Interest in eleven (11) oil prospects in the state of Illinois.
The 11 potential wells are located in the Illinois Basin in the counties of DeWitt, Christian, Washington and Shelby. Drilling of the first wells is forecasted to begin within the next few months. Drilling depths are expected to be on the order of 1,000 to 5,000 feet per well. The Illinois Basin covers approximately 60,000 square miles across Illinois, Indiana, and Kentucky. Since the initial discovery of oil in the Illinois Basin in 1886, it has produced approximately 4 billion barrels of oil and an estimated 4 trillion cubic feet of natural gas.
"This is an extremely exciting long-term turnkey opportunity for our Company and we believe these wells have significant upside potential with a high rate of return of about 30% per year," stated Eric Wroblewski, CEO of American Leisure Holdings, Inc. "Our strategy going-forward is to move aggressively on acquisitions, such as this one, that can increase our asset base and accelerate revenue generation. I look forward to completing this acquisition and providing additional information regarding permitting, site preparation, and drilling very soon."
About American Leisure Holdings, Inc.
American Leisure Holdings, Inc. is focused on investments in the North American oil and gas sector. The Company's wholly owned subsidiary, Wroblewski Oil and Gas (WOGC), is a distributor of a leading international manufacturer of transportation fuels and petrochemical products. WOGC's brick and mortar businesses include a retail and wholesale gasoline station, a convenience store, car wash, doggie wash, and coffee drive-thru located in Zelienople and Coraopolis, Pennsylvania. The Company's growth strategy includes several projects in oil and gas exploration focused on acquiring drilling prospects, participating in permitted frac sand operations, and utilizing existing relationships to broker the sale of refinery byproducts.
For more information, please www.woilandgas.com.
Forward-Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities 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. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and American Leisure Holdings, Inc. undertakes no obligation to update such statements.
CONTACT:
American Leisure Holdings, Inc.
(229) 200-5527
