SALT LAKE CITY, UT -- (Marketwire) -- 11/30/12 -- Middle East Oil Corp. (PINKSHEETS: MIDH), an oil and gas development and exploration company, announces today it has commenced its registration of a branch office to be located in Dubai in the United Arab Emirates (UAE).
The location of the UAE is in a very strategic position in the Middle East and the world. The UAE is one of the major centers of the oil trading and production industries and from there the company will carry out its operations in the Middle East, Northern Africa and Central Africa.
Also the Board of Directors is replacing its President and will be appointing a new President and therefore has accepted the resignation of Miloud Bekoucha and has appointed Ricardo Ruelos of Seattle, Washington as interim Chief Executive Officer & President. Mr. Ruelos will continue to serve as a member of the Board of Directors and has over thirty-five years as an executive and board member, leading and working with both private and publicly traded companies.
About Middle East Oil Corp.
Middle East Oil Corp. is an oil and gas exploration and development company concentrating on the exploration, development and refinery of oil and gas in the Middle East.
Safe Harbor statement under the private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, including statements regarding the Company's expectations about successfully selling its products and about the positive effects of the acquisition described herein. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results expressed or implied in such statements. These risks and uncertainties include the inability to manage expected growth, the failure to realize the increased revenues and improved operating margins that the Company has associated with sales of our products, the loss of any key personnel, our inability to introduce new products that are accepted by the market, the loss or non-performance of our sales representatives, unfavorable results of potential litigation, and the possibility that competitors could develop or acquire technology that could erode the Company's technical advantages. The Company disclaims any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in this news release.