Invision Capital, Inc.: EDI Exploration Drilling International GmbH Signs Memorandum of Understanding With Bahraini Consulting Firmadmin
Thursday, August 10th 2006
Invision Capital, Inc. announced that its wholly owned subsidiary, EDI Exploration Drilling International GmbH (“EDI”), based in Haltern am See, Germany, has executed a memorandum of understanding (“MOU”) with Plane Enterprises Consultancy, based in Manama in the Kingdom of Bahrain. Plane Enterprises Consultancy provides consulting services in the fields of technology and commerce. Plane also arranges contacts for foreign cooperation partners in Bahrain.
The MOU sets out a conceptual framework under which the parties will attempt to negotiate a binding joint venture agreement. Under this framework, Plane Enterprises will provide consulting advice to EDI on the development of the Bahraini market and will also seek to develop local opportunities for EDI’s products and services. Any orders generated will be performed by EDI. The main focus of the joint operations with Plane Enterprises will be on the implementation of exploration projects for liquid and mineral resources on behalf of the Bahraini government and private companies. Specific terms of the joint venture have yet to be determined.
Together with its co-operative affiliations with A. Abunayyan Trading Corporation and Duluk Petroleum Services in Saudi Arabia, and Manarah World Trading Est., also in Bahrain, EDI’s association with Plane Enterprises forms the company’s fourth co-operative affiliation on the Arabian Peninsula, further expanding EDI’s network of contacts in the region.
EDI Exploration Drilling International GmbH is the wholly owned subsidiary of Invision Capital, Inc. EDI specializes in innovative water well drilling, construction and maintenance systems. The systems offered by EDI provide considerable cost and quality advantages over traditional drilling, construction and maintenance systems. EDI’s systems can also be used in the drilling and construction of oil and gas wells.
The Company’s shares are traded on over-the-counter market in the United States (OTCBB: IVCA) as well as on the stock market in Frankfurt (WKN: A0JKCN, ISIN: US46184W2098).
This Press Release may contain, in addition, to historical information, forward-looking statements. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, the Company is a development stage company, and has not earned any revenues to date. There are no assurances that EDI’s co-operative affiliation with Plane Enterprises will result in any future contracts for its products or services or that the Company will be able to earn any future revenues or generate any future sales of its products or services.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.
INVISION CAPITAL, INC.
Guenter Thiemann, Chief Financial Officer and Treasurer
Contacts: Invision Capital, Inc. Guenter Thiemann Chief Financial Officer and Treasurer