|By Marketwired .||
|July 25, 2014 09:30 AM EDT||
SHORT HILLS, NJ -- (Marketwired) -- 07/25/14 -- Intrepid Energy Corporation, an Umbra Applied Technologies Group company (OTC: UATG), announced today that it has started oil production. CEO of Umbra Applied Technologies Group, Alex Umbra commented that, "Today is yet another milestone in the development of our company, as we begin to transform the potential of a promising company into realized shareholder value. I congratulate our team on yet another successful step towards our plan to build a diversified energy farm."
Umbra Applied Technologies Group has begun the process to create an 'energy farm' that will integrate its clean GreenTech product lines and bolster UAT's Clean Energy Initiated with conventional oil and gas operations. Justin Herman, CEO of Intrepid Energy stated that, "Our ambition to become a great energy company truly started today. Obviously with the commencement of oil production, we anticipate increasing revenues with oil sales, as we do our part in building UATG, while we work towards American energy independence."
Intrepid Energy's oil and gas operating plan is to build a Mississippi Lime acreage portfolio with over 1000 acres and 50 operating wells over the next twelve months. UATG presents itself as a forward thinking energy firm with a clear vision on how we may synergistically integrate conventional energy production with an environmentally friendly 21st century approach firmly founded in science and technology.
About Umbra Applied Technologies Group, Inc.
Umbra Applied Technologies Group, Inc. is a diversified, leading edge technology company with an intrepid vision in the fields of alternative energy, conventional energy, medical innovation, environmental remediation, weaponry, and compound recognition technologies which are marketed toward homeland security.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to any issue or concern. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Umbra Applied Technologies Group, Inc.
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