DALLAS, TEXAS--(Marketwire -07/24/12)- AGR Tools Inc's (or "AGR" or the "Company") (AGRT)(AGRT) wholly owned subsidiary AGR Energy Holding Inc (or "AGR Energy) is pleased to announce they have purchased an oil reserve report on the recently announced Burke lease in Navarro County, Texas.
Within the content of the report FGA reports the properties to contain 1.332MM proven and probable undeveloped barrels of oil.
Mr. Vern Wilson, CEO of AGR commented:
"The economics were very compelling to AGR as a $13MM investment should yield roughly $110MM in revenues over 15 years."
About AGR Tools Inc, and its wholly owned subsidiary, AGR Energy Holdings Inc:
AGR Tools/ AGR Energy Holding's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare.
AGR Energy Holding's strategic goal is to expand our reserve base and increase our cash flow through investment in and management of exploration, acquisition and exploitation of new and existing oil and gas assets.
For further information please visit: www.agrenergycorp.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements made in this release that relate to future plans, events, financial results or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements are based upon current information and expectations. Actual results may differ materially from those anticipated as a result of certain risks and uncertainties. Investors should also be aware that while the Company from time to time does communicate with securities analysts, it is against the Company's policy to disclose to them any material non-public information or other confidential commercial information. Investors should not assume that the Company agrees with any report issued by any analyst or with any statements, projections, forecasts or opinions contained in any such report.