AVENTURA, Fla., May 13 /PRNewswire-FirstCall/ -- XStream Beverage
Network, Inc. (OTC Bulletin Board: XSBVE) today announced that the company
has changed its name to Hull Energy, Inc. (OTC Bulletin Board: HULLE)
"We are not only changing our name to Hull Energy, but more importantly
changing the company's strategic focus. We believe our shareholders will
benefit from the tremendous opportunities available to us in the Oil and
Gas sector. We are focusing on a dual strategy of exploration as well as
operation," said Ron Ratner the company's CEO and President.
At today's current market prices, there exists new niche merger and
acquisition opportunities that will allow Hull Energy to participate along
side other junior exploration and production companies that have recently
evolved due to the increasing demand for energy. "With the price per barrel
for oil reaching new highs it was not a hard decision to make the switch
from our water brands, which were bringing in little or no revenues, to a
product that could add substantially to the bottom line," stated Mr.
Ratner.
With our new corporate strategy in place, Hull Energy is pleased to
announce our Non-Binding Letter of Intent with G2 Petroleum, of Midland
Texas, to purchase a 10% Working Interest in their Diamond Springs
Exploration Project. West of Casper, Wyoming, in the Sweetwater Mountains,
the Diamond Springs prospect is adjacent to both the Wind River Basin and
the Casper Arch in Freemont County and is in close proximity to productive
gas and oil fields. The Binding document, between G2 Petroleum LLC and Hull
Energy, should be executed no later then May 16, 2008. Further details will
be outlined concerning the details of this acquisition as well as
information pertaining to Hull's new exploration business.
Our first priority, in addition to bringing in a quality oil and gas
business, will be to bring the last quarter's filing up to date. This will
allow the Company to have the E removed from the trading symbol.
About Hull Energy, Inc.
Hull Energy has become an Oil and Gas company involved in the
exploration of oil and gas on existing leases or properties, showing proven
reserves. Of these properties, most according to our engineers have
tremendous potential to produce oil and gas. Once these properties or
leases are identified via the expertise of our joint venture partners, Hull
Energy will be involved in the operations on a day to day basis.
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include failure to complete
successfully the development of new or enhanced products, the successful
implementation of acquisition program, the Company's future capital needs,
the success of competitive products, fluctuations in costs, changes in
consumer preferences and other items described in the Company's Securities
and Exchange Commission filings. The Company undertakes no obligation to
update any statements in this press release.
Company Contact: Ron Ratner 786-787-0441
Investor Relations contact:
Kulman IR, LLC
305-749-3112
info@KulmanIR.com
SOURCE XStream Beverage Network, Inc.
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Related links:
http://www.xbev.com/
CONTACT:
Ron Ratner of Hull Energy, Inc.,
+1-786-787-0441, or Investor Relations, Kulman IR, LLC,
+1-305-749-3112, info@KulmanIR.com
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