| Drillmar completes equity offering |
| Georgetown, Cayman Islands - September 03, 2007 Drillmar Energy Inc announces it has completed an equity offering raising net proceeds of apprx $7MM to be used for acquisition and development of oil and gas properties, start-up cost for the LOC 250 rig and general working capital purposes. Since the company managed the fund raising internally and no manager or legal advisors were involved in the transaction the net proceeds equaled the gross proceeds. For further information visit the Company's website at www.drillmar.com Drillmar Energy Inc is an oil and gas exploitation and production company. In the US, Drillmar Energy Inc is operating through its wholly owned subsidary Drillmar Oil & Gas Inc. Drillmar's strategy is to exploit the use of non-traditional drilling techniques and technologies. These techniques and technologies include casing drilling, managed pressure drilling and certain petrophysical/geophysical reprocessing and remapping. We have consistently made significant improvements in the efficiency and cost of developing oil and gas reserves for BP, Shell, PDVSA, PEMEX and Apache as well for our own account. We are currently qualified operator in Texas and Louisiana and have established appealing production and/or acreage positions in those states. Forward-Looking Statement. This news release may contain certain forward-looking statements including declarations regarding Drillmar Energy Group and its subsidiaries' expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Company management as of the date hereof, and actual results may vary based upon future events, both within and without the control of management, including risks and uncertainties that could cause actual results to differ materially including, among other things, the impact that acquisitions may have on the company and its capital structure, exploration results, market conditions, oil and gas price volatility, uncertainties inherent in oil and gas production operations and estimating reserves, unexpected future capital expenditure requirements, competition, governmental regulations and other factors.Contact: |