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4-Traders Homepage  >  Equities  >  OTC Bulletin Board  >  Virtus Oil and Gas Corp    

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Virtus Oil and Gas Announces Court Ruling

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07/24/2017 | 01:20pm CEST

Las Vegas, Nevada--(Newsfile Corp. - July 24, 2017) - Virtus Oil and Gas Corporation (OTC Pink: VOIL), is pleased to announce it has received a court ruling in favor of Virtus. Energy Services vs. Virtus Oil and Gas et al. in the Fifth Judicial District Court in and for Iron County, State of Utah, Case No. 150500183. The court dismissed the suit with prejudice. The suit claimed that Virtus was liable to Energy Services, LLC for approximately $360,000.

Energy Drilling LLC, the drilling contractor, had filed a suit in the United States District Court for the District of Wyoming. This suit is currently stayed due to the bankruptcy filing by Energy Drilling LLC. The bankruptcy court converted the chapter 11 filing to a chapter 7 and appointed a Trustee to liquidate the assets of Energy Drilling LLC.

About Virtus Oil and Gas Corporation

Virtus Oil and Gas Corp. (VOIL) is a Nevada-based oil and gas exploration and production company currently focused on producing assets in the State of Colorado and Utah. Virtus' strategy is to acquire proven and producing assets and/or develop oil and gas resources in proven, onshore basins in the United States.

Forward-looking Statements

This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. The company will need to raise additional financing in order to advance its exploration and drilling program. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

Contact:
Virtus Oil and Gas Corporation
848 North Rainbow Blvd. #170
Las Vegas, NV 89107
(775) 636-3132
www.virtusoil.com


© Newsfilecorp 2017
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Managers
NameTitle
Dan H. Green Chairman, President & Chief Executive Officer
Steven M. Plumb Chief Financial & Accounting Officer
Brett A. Murray Director & VP-Business Development & Land
James A. Gibbons Director
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