Another U.S. corporation moving to Dubai

From Global Financial News:

6/26/2007 4:33:28 PM Tuesday, SNRG Corp. (SNRG.PK), announced closure of its corporate headquarters office based in Scottsdale, Arizona and is in the process of setting up its Head Office in Dubai, United Arab Emirates.



SNRG initiated steps to develop a waste to energy business in 2005. The company plans to reestablish these business activities in conjunction with other environmental opportunities.



Elroy Fimrite, President and Chief Executive Officer, SNRG, said,” The significant growth and development in the Middle East and North Africa has prompted a number of companies, including Halliburton, to relocate their head offices to Dubai, management has spent the past eight months establishing relationships and developing business opportunities in this region and will now proceed to position the Company to exploit some of these opportunities. There is a high level of commitment in the Middle East to clean up existing environmental problems such as oil sludge disposal sites and oil spill sites, and to achieve sustainable development without environmental impact, we believe that the Company can become a integral part of the solutions to these challenges."


SNRG, Corp. is a Houston-based oil and gas exploration and development (E&D) company with domestic producing crude oil and natural gas properties. The company has positioned itself and its shareholders to take advantage of the supply needs in the energy sector by providing domestically produced resources. We currently hold approximately 6,000 acres of crude oil and natural gas reserves with the majority of acreage in shallow formation fields for low cost exploration, drilling and production. We have 28 producing wells and have identified new well target zones with strong well log data and the interpretation of 8.3 square miles of 3D seismic. The company’s management and operational team have extensive oil and gas industry expertise as well as capital market experience. Our combined strengths allow the company to run at maximum efficiency while exploiting the full potential of our properties to maximize production.