International Oil & Gas Holdings Corporation Acquires BlackStone Energy

Patented Tar Sand Oil Extraction Process to Commence Operation this Week

International Oil & Gas Holdings Corporation (Symbol: IGHL), a diversified holding company with joint ventures in the energy, technology, insurance, real estate and security sectors, announced today BlackStone Energy will become a wholly-owned subsidiary of IGHL via a definitive merger agreement signed between the two companies. Founded in 1996, BlackStone Energy has developed and patented an ecological safe, non-toxic and environmentally friendly extraction process of tar sand and heavy oil reserves. The 99.9% efficient, closed loop recovery process provides heavy oil readily available for delivery to the refinery and a saleable byproduct of clean dry sand for commercial use. It is estimated that tar sand reserves in the U.S. exceed 40 billion barrels of heavy oil. At present, it is reported that 30% of U.S. oil is provided directly from imported tar sand product.

BlackStone Energy will deliver the first domestically extracted tar sand oil product to a U.S. refinery within the next two weeks during its initial production demonstration run in Bartlesville, Oklahoma. Following these demonstrations, BlackStone expects to enter into strategic partnerships to develop reserves and collect simple royalty agreements on production. In addition, BlackStone is actively seeking additional leases upon which to deploy the technology.

“We at IGHL are extremely excited about the acquisition of BlackStone Energy. We foresee our processing of tar sand oil to have a significant impact in the energy market. The BlackStone patented process is environmentally friendly and 99.9% operationally efficient, unlike any other processing means used in other countries that damage the ecological system of our planet. Patents have been issued and are pending in North America, South America, Asia, Australia, and many parts of the Russian Republic,” stated Keith McAllister, CEO and Chairman of the Board of IGHL.

The BlackStone extraction process was developed by a team of scientists and engineers headed by Mr. Frank Glinton. Mr. Glinton has a multi-faceted history in the resource industry with a successful record in sales, marketing and management. He has spent 15 years in the environmental remediation sector of hydrocarbon clean-up. He is a highly recognized consultant on spill response programs domestically and internationally.

About International Oil & Gas Holdings Corporation

International Oil & Gas Holdings Corporation (IGHL) is a holding company that partners with high-growth, profitable companies with great potential and powerful synergies while providing financial and/or management services to its Joint Venture partners and/or its subsidiaries. IGHL’s primary focus is in the oil and gas energy sector. The company also has investments in energy technologies and insurance that give it a unique position in the market. Additionally, the company has diversified its investments by working with real estate and security companies that have synergies with its energy and insurance projects. The company is a full service petroleum distributor operating in business, government, and industry markets. The company is headquartered in Las Vegas, Nevada and its affiliates have offices in Dallas, Texas, Colorado and Southfield, MI.

Please visit the Company’s website at: www.ioghc.com.

Forward Looking Statements:

Statements about the Company’s future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. The Company’s actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release; the Company will appropriately inform the public.

Contact:

Redwood Consultants, LLC
Jens Dalsgaard, 415-884-0348

Source: International Oil & Gas Holdings Corporation