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September 01, 2020 10:27am
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Sunset Island Group Signs LOI To Acquire Oil Field

Sunset Island Group (Pink Sheets:SIGO) announced today that it has signed a letter of intent to acquire several oil and gas leases in Texas.

The leases, located in southwest Texas, will cover approximately 26,000 acres in the Maverick Oil Basin. We feel very pleased to be able to acquire a property in such a rich oil and gas producing area, states Arnold Levine, Sunset Island Group CEO. We are finishing up our due diligence and believe that we will be able to finalize funding and close on this acquisition shortly.

The company also stated that upon completion of its due diligence of the Matagorda properties, the company has declined and will not acquire the property.

Certain statements in this news release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including, but not limited to, the Company can successfully participate in such opportunities. Actual results may differ materially from those currently anticipated due to a number of factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

Contacts:

Sunset Island Group, Inc., Sarasota
Lawrence Sherman, 941/400-1129

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