| ||March 28, 2012|
Daleco Resources Corporation Completes Sale of Undeveloped Properties
| ||On January 20, 2012, the Company entered into a purchase and sale agreement (the "PSA") pursuant to which the Company agreed to sell certain oil and natural gas leasehold rights for cash with a closing date of March 28 2012. The Company received cash at the closing and will recognize gain in the amount of proceeds received. The oil and natural gas leasehold rights that were sold were undeveloped, and as such not income-producing to the Company. The Company will use the proceeds for general working capital purposes.|
Daleco Resources is a natural resource company with operating subsidiaries active in oil and gas, industrial minerals, and environmental remediation technology.
Safe harbor for Forward-looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the Company's operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.
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Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in our press releases, such as "measured," "indicated," and "inferred "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-KSB which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.