Inver Grove Heights, MN / ACCESSWIRE / July 30, 2014 / Blue Earth Resources, Inc. (the "Company") (OTC Pink: BERI), an oil and gas exploration, development and production company is pleased to announce the closing of a non-brokered financing in the form of a private placement.
Proceeds from the private placement will be used for the continued infrastructure enhancements and development of Blue Earth Resources assets and acquisition opportunities. Management has forecasted the re-stimulation of 16 existing wells by the end of August, 2014, located in De Soto Parish, Louisiana, and Claiborne Parish, Louisiana.
"With the receipt of these funds, we now have the resources at hand to accelerate our ongoing work over program. We will continue to seek and focus on acquisition opportunities that complement our existing properties and offer increased shareholder value through additional drilling locations and reserves," said John Lai, President.
About Blue Earth Resources, Inc.
Blue Earth Resources, Inc. headquartered in Inver Grove Heights, Minnesota, is a growth-oriented oil and gas Exploration and Production (E&P) company with a focus on growing reserves and net asset value per share, through the development and enhancement of oil and gas properties as well as developmental drilling opportunities.
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the forward-looking statements. Readers accordingly should not place undue reliance on these forward-looking statements, which do not reflect unknown or unanticipated events or circumstances occurring after the date of these forward-looking statements.
Blue Earth Resources Inc.
SOURCE: Blue Earth Resources Inc.