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Home > Oil Gas News > NRG RESOURCES, INC. Adopts New Equity Incentive Plan
NRG RESOURCES, INC. Adopts New Equity Incentive Plan
Santa Ana, CA (PRWEB) October 13, 2005 -- NRG Resources, Inc. (OTC: NRRI), an independent oil and oil-products company, today reported that its Board of Directors has approved and adopted NRG Resources, Inc. 2005 Equity Incentive Plan. Stock Incentive Plans are designed to enable companies to attract and motivate talented employees, directors, and consultants.
The purpose of this Plan is to provide equity-based incentives to attract, retain and motivate eligible persons whose present and potential contributions are important to the success of NRG Resources, Inc. “Our Equity Incentive Plan enables our management, board of directors, and consultants to further participate in the company's future performance through awards of stock options,” states Tony Vanetik, CEO of NRG Resources, Inc. “The Company is in the process of structuring a competitive compensation package for its board, officers, and advisors,” explains Vanetik.
“The Equity Incentive Plan is a critical component of our marketing and sales efforts. It provides our marketing people with a real stake in the company’s business, building long term loyalty,” comments Don Borba, Marketing Director.
NRG Resources, Inc., a Nevada corporation, is an oil and gas exploration and oil products marketing company, based in California. Through its Kazakhstan subsidiary, Munaisystem INK, the Company controls a license to explore for hydrocarbons, and is pursuing additional oil and gas exploration opportunities in the Republic of Kazakhstan. Through its oil products division, NRG Resources, Inc. markets a proprietary line of lubricants and related products for industrial and commercial application.
This announcement contains forward-looking statements, which can be identified by the use of forward-looking terminology such as "may," "expect," "anticipate," "estimate," "continue," "believe" “plan,” “hope, “intend,” or other similar words. We have made forward-looking statements with respect to the following, among others: our goals and strategies; our ability to earn sufficient revenues to operate and retain the human resources that we have recruited or are in the process of recruiting; our ability to continue to operate and/or develop our existing lubricants business; our ability to continue as a going concern. These statements are forward-looking and reflect our current expectations. These forward-looking statements are subject to a number of risks and uncertainties, some of which are beyond our control. Forward-looking statements in this announcement are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although NRG Resources, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Investors are cautioned that all forward-looking statements involve high risks and uncertainty, including without limitation, our limited operating history, the costs and risks of exploring and developing new oil and natural gas reserves, the price for which such reserves can be sold, environmental concerns effecting the drilling of oil and natural gas wells, fluctuations in commodity prices, inconsistent application, interpretation, and enforcement of applicable Kazakh government taxes or other state taxes, and Kazakhstan Excess Profits Tax, currency exchange losses if Tenge depreciates against US Dollar, country and political risks, including diplomatic and political relations between US and Kazakhstan, costs arising from environmental liability, uncertain costs of drilling (oil producing fields located adjacent to Kokaral, are not an indication that our drilling or related efforts will be successful), inability to drill wells that produce commercial quantities of oil and natural gas, shut-ins of connected wells resulting from extreme weather conditions, insufficient storage or transportation capacity or other geological and mechanical conditions, general market conditions, competition, oil and gas pricing, drilling programs and results, our continued operations of our lubricant business, our future capital needs, our ability to retain qualified management and consultants, etc.
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