XR Energy, Inc. to Engage Petroleum Engineer to Appraise Oil Reserves

Oct 29, 2014 (eTeligis.com via COMTEX) IRVING, TX, United States, via ETELIGIS INC., 10/29/2014 - XR Energy, Inc., (OTCQB:XREG) is pleased to announce that the Company has commenced to engage and schedule a certified Petroleum Engineering company to evaluate the Company s Oil Reserves. Our oil assets are reflected on our balance sheet at the predecessors historical net book value and really does not give a true picture of our underlying value , said XR Energy s CEO Akram Chaudhary, who further said, after we complete the rework program we expect to be able to report on increased production and coupled with a completed Engineering report, be able to report on higher asset values based on these evaluated producing reserves and potential reserves available. The Company has received a proposal from a Company consisting of qualified experts in the Oil and Gas industry that routinely report on Company s Oil and Gas reserves for SEC public company reporting and valuation purposes. The scope
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