HOUSTON , Oct. 1 /PRNewswire-FirstCall/ -- ECCO Energy Corp. (OTC Bulletin Board: ECCE) announced today that it executed an agreement on September 28, 2007 pursuant to which ECCE acquired all of the partnership interests in Louisiana Shelf Partners, LP, a Delaware limited partnership ('Louisiana Shelf Partners'), for $5,000,000 by issuing to the General Partner and the limited partners of Louisiana Shelf Partners 1,000,000 shares of Convertible Preferred Series B stock of ECCE at $5 per share.
Louisiana Shelf Partners owns Louisiana State Lease Number 17742 in Block
4, covering 600 acres in East
Samuel M. Skipper, ECCE's Chairman and Chief Executive Officer states, 'I am very excited to announce this acquisition. This gives ECCO the critical mass, net worth, and reserve base needed for ECCE to be a successful Exploration & Production company. Our goal is to immediately connect the #1 well, and drill the #2 well, thus dramatically increasing our cash flow. We are currently in negotiations with two companies, exploring the most cost effective way to establish production.'
About ECCO Energy Corp.
ECCO Energy Corp. is a growing independent oil and gas exploration and production company headquartered in Houston , Texas. The Company is engaged in the acquisition, development and production of oil and natural gas reserves. The company's primary focus is Texas, Louisiana, and the Gulf Coast region.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the 'Act'). In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'will,' 'anticipated,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward looking statements that involve a number of risks and uncertainties. The reserve data included herein represents only estimates. Reserve engineering is a subjective process of estimating underground accumulations of oil and natural gas that cannot be measured in an exact manner. As a result, estimates of different engineers often vary. The estimates of reserves, future cash flows and present value are based on various assumptions, including those prescribed by the SEC relating to oil and natural gas prices, and are inherently imprecise. In addition, important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports. ECCO Energy Corp. (OTC Bulletin Board: ECCE) takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that is not paid for by the Company.
SOURCE ECCO Energy Corp.


