Monday, January 13, 2014

Innocent Inc. (INCT) President and CEO Announces 2014 Company Business Model

Innocent is a development stage oil and gas exploration and production company focused on developing properties in North America. In a recent letter to the shareholders, company President and CEO Wayne Doss outlined a new business model designed to require less investor funding upfront and institute tighter management control.

“We have decided that the future business model will consist of opportunities with less initial funding requirements to prove the opportunity, greater management control over the expenditures, and a mandate to operate with our partners as a team,” he stated. “Management firmly believes this approach can be the winning formula that finally provides the company (with) both a realistically financeable and controllable operation.”

Innocent has been focused on developing properties in North America, while planning to minimize the risk of exploration through development of proved petroleum reserves, and maximizing profit through strategic acquisition and liquidation of selected oil and gas properties. Through improvements in oil and gas production technologies, they seek to rapidly increase production levels and generate predictable, sustainable value.

One of the company’s newest areas of interest for development is The Powder River Basin of Wyoming, particularly where the objective oil-bearing formations are less than 2,500 feet below the surface. Doss explained to the shareholders how this newly announced exploration opportunity will tie into Innocent’s business model.

“We will operate in our backyard, with proven professionals in the oil and gas industry, and structure the operating agreements in a manner that all involved will share on the rewards,” he stated. “The funding requirements will be line item detail, the expected return will built on a conservative basis and the assumptions will be clear and defined. This way we will be able to adjust the operating plan to maximize gains and minimize losses and not be committed to excessive amounts of capital prior to seeing the rewards of the operation.”

Adhering to its narrow, clearly defined strategy, Innocent is focused on 100% acquisitions and joint-ventures designed to maximize its production capacity. For more information about the company, and plans for the future, visit www.innocentinc.com.

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