SOURCE: Double Crown Resources, Inc.
HENDERSON, NV--(Marketwire - Oct 26, 2012) - Double Crown Resources, Inc. (OTCQB: DDCC), a fully reporting company (hereinafter, "Double Crown"), has been developing new business ventures to supply vital minerals needed for oilfield drilling operations. Additionally, at this time Double Crown is proud to announce that it has been approved and registered to purchase and resell refined petroleum products from a major international producer of transportation fuels and other petrochemical products based in Texas. To meet this top level producer's requirements and support this new business function, Double Crown has arranged a multi-million dollar line of credit through a major financial lending institution. This line of credit does not involve any equity exchange and therefore will not be dilutive to DDCC shareholder value in any way.
Double Crown is also pleased to announce that the company is currently working out final negotiations of multiple international sales contracts for the delivery of crude petroleum products from specific producers. To facilitate these contracts, Double Crown has now established a working partner relationship with Canaan Oilfield Services, LLC of Bellaire, TX. This relationship will allow for deliveries of crude oil from the Bakken Shale Formation in North Dakota to various transload terminals in the Gulf Coast and West Coast areas.
Double Crown's President and CEO Jerry Drew commented, "The progress we are now making with our oilfield sector business and our new registered status with one of the oil industry's major producers is extremely encouraging. Great credit for this progress must go to board members Glenn Soler, Allen Lopez and Marc Duncan who have worked for months and employed their high level industry knowledge, experience and connections to bring success to our efforts in this area. We are looking forward to signing and announcing multiple oil industry contracts in the near term which will give positive cash flow to Double Crown Resources and translate to increasing value for our investors. I will soon address DDCC shareholders and interested parties directly in a new audio/video interview presentation as well as the upcoming release of our profile segment on the Insights with Terry Bradshaw national television program. These features will provide more details of all our current and planned operations."
About Double Crown Resources, Inc.
Double Crown Resources, Inc. is a natural resource exploration and development company holding a 100% interest in the McNab molybdenum property located in Southwest, British Columbia, Canada and the Bateman gold & nickel prospect near Thunder Bay, Ontario, Canada. In addition, Double Crown is targeting new properties as well as oilfield service projects that have the potential for early positive cash flow. The company is presently reviewing a number of new natural resource properties that are near to, or in production, located in North, South and Latin America. Multiple oilfield service projects are currently under active development. Double Crown Resources, Inc., originally founded in 2006, is based in Henderson, NV.
For more information, please visit: http://www.doublecrownresources.com/
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Double Crown Resources, Inc., please refer to its website at http://www.doublecrownresources.com/