Salt Lake City, Utah – April 28, 2008 – Apex Resources Group, Inc. (OTC BB:APXR) Announces The Global Demands On Oil And Gas Has The Potential to Create A Black Gold Fever Newly Appointed Director States.
With the increasing global consumption of oil & gas and production not equalizing to the demands, gas and oil prices will continue to increase, with the potential of creating a black gold fever, according to newly appointed Director Roger Reynolds. Mr. Reynolds with an extensive background in finance and a follower of Apex has joined the Board of Directors and is working diligently to raise funding for the company. “This is an opportunity that only comes once in a lifetime to be part of such a huge oil & gas play along with the majors. The 3.745% interest in the Itiyok SDL #55 Apex owns value increases at such a phenomenal rate on a daily basis, it is causing some credibility issues, because of the low valuation of the shares. According to other experts, the average of natural gas for the 12-month forward strip on the NYMEX for 2009 is showing a price of $10.58 US. These numbers suggest either supply is inadequate or demand will be stronger than expected. The factors driving natural gas prices are not much different from those behind the surge in oil prices, as natural gas is rapidly becoming a premier global commodity. Apex’s Itiyok SDL #55 holding is extremely rich in gas. The fact is that for every penny gas goes up, Apex 3.745% interest increases by U$708,000.00 and for every penny oil goes up, Apex 3.745% interest increases by U$95,000.00, yet the shares of Apex only trade around U$0.03 offering a ground floor opportunity for investors to assume a significant position. Instead of dreading the increasing gasoline prices reflected at the pump or increasing gas prices of monthly utility bills, investing in Apex offers and opportunity to be excited about oil and gas prices going up by benefiting from the increased value. In my opinion, it is just a matter of time with the start of building either the Mackenzie Valley Pipeline or the Alaska Pipeline the true value of the company will be reflected in the price of the shares, and investors whom positioned early, will be the biggest winners later, it is simple mathematics”, stated Roger Reynolds.
APEX RESOURCES GROUP INC. PROVEN, PROBABLE & POSSIBLE GAS & OIL RESERVES IN THE ITIYOK I-27 SDL #55 IN THE BEAUFORT SEA:
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The progress of either of the Pipelines being build, adds significant value to the interest that Apex has in the Beaufort Sea Significant Discovery Lease #55. Apex Resources Group Inc. owns 3.745% working interest in the Itiyok I-27 Well (SDL#55) in the Beaufort Sea and is the fourth largest partner in the Itiyok I-27 Well with a 3.745% working interest, with Imperial Oil as the operator and the largest partner with an interest of 58.67312%. At current oil & gas market prices, the Apex 3.745% working interest (Apex Value) in the Itiyok I-27 Well in the Beaufort Sea is estimated over US$1.9 Billion Dollars.
ITIYOK I-27 WELL (SDL #55) PARTNERS IN ORDER OF HIGHEST %:
DEVON ARL CORPORATION 14.72 % PETRO - CANADA 14.20 % APEX RESOURCES GROUP INC. 3.745 % CONOCOPHILLIPS CANADA RESOURCES CORP. 3.003 % CANALANDS RESOURCES 2.255734 % CANADIAN NATURAL RESOURCES LIMITED 1.23445 % CANADIAN FOREST OIL LTD. 1.084348 % 677862 ALBERTA LTD 1.084348 %
The Itiyok I-27 Well (SDL#55) was originally drilled in 1983, at a total cost of CAD$85 million. A review of Well data and geological prognosis indicates that a 640 acre area would contain proven recoverable gas reserves of 108 Bscf and proven recoverable oil reserves of 8,976 MSTB, with Apex Resources Group Inc. 3.745 % working interest net reserves of 4.04 Bscf and 336 MSTB.
Seismic data indicates a structure closure of approximately 40 square KM with a gross potential reserve of 1.16 TCF and 160 MMSTB (Apex 3.745 % working interest net – 34 Bscf and 4.7 MMSTB). The lands in which the Apex Resources Group Inc. owns an interest comprised of 21.54 square KM containing gross potential reserves of 625 Bscf of gas and 86 MMSTB of oil Apex 3.745 % working interest net - 23.4 Bscf of gas and 3.2 MMSTB of oil). Values of proven, probable and possible gas and oil reserves, of Apex 3.745 % working interests, as per Citadel Engineering report, have been published in previous news releases.
For Investor Relations please contact:
Roger Reynolds Telephone: 1-780-990-0991 E-mail: paros@aol.com
By the Board of Directors,
John Ray Rask President Apex Resources Group, Inc. www.ApexResourcesGroup.com
The foregoing contains forward-looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, such words a "may", "will", "believes", "anticipates", "estimates", "continue", or comparable terminology intends to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors, including, but not limited to, the successful negotiation and execution of the definitive acquisition agreement and receipt of certain exhibits and schedules requested by Apex Resources Group, Inc.
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