VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/23/10 -- Archer Petroleum Corp. (TSX VENTURE: ARK), (the 'Company') has entered into an investor relations agreement (the 'Agreement') with Tribeca Capital Partners Inc. ('Tribeca'). Under the Agreement, Tribeca will develop and execute a comprehensive marketing and investor communications program to help raise awareness of the Company. Services Tribeca will provide include providing advice to the Company with respect to corporate development, producing and distributing effective marketing communication tools, increasing investor awareness, and introducing the Company to private investors, analysts, brokers, money managers, newsletter writers and other financial professionals.
The Agreement is for a term of three months, renewable at the mutual agreement of both parties. Tribeca will receive a onetime fee of $17,500 (plus H.S.T) in remuneration and be reimbursed for all approved expenses.
Tribeca is not related to the Company and does not have any direct or indirect interest in the Company or its securities, other than the possible grant of stock options as referred to herein. The Agreement is subject to TSX Venture Exchange approval.
Archer Petroleum Corp. President Colin Bowkett states: 'We are excited to have Tribeca as our partner in an investor relations capacity. Archer has completed several noteworthy milestones over recent months, and is moving into a much more active stage of development with our portfolio of projects. We recognize the importance of having a good quality communications strategy in place. The Tribeca team has a wealth of experience and contacts and believes it is time to expand the audience for Archer Petroleum and we look forward to their involvement at this exciting time. The Archer Petroleum team looks forward to working with them in the coming months.'
Based in Vancouver, British Columbia, Tribeca Capital Partners Inc., (www.tribecacap.com) was founded to provide a full range of capital market and investor relation services targeted to the needs of pre-IPO companies and to publicly listed North American based small-cap to mid-cap companies. The company is owned by Mr. Ali Sinawi, Mr. Kevin Beaulieu, and Mr. Jamie Hyland, investor relations professionals with a combined 17 years of experience assisting numerous small-cap corporations gain coverage and recognition within the global investment community.
About Archer Petroleum:
Archer Petroleum Corp. is an independent oil and gas company focused on the exploration and development of its assets in North America including the Permian Basin of West Texas and the Bakken Shale area of North Dakota. The Company's shares are listed on the TSX Venture Exchange under the symbol 'ARK'.
Archer holds a 25% net working interest in approximately 4,700 acres within the Greater Joe Mill Project in West Texas, with an option on an additional 5,700 gross acres in the area. Archer commenced drilling operations in February 2010 and has plans to drill an additional 2 wells plus 1 re-entry in 2010.
An evaluation of oil & gas reserves in the Greater Joe Mill Project has been completed to NI 51-101 standards.
Archer additionally holds a 50% working interest in approximately 1,500 acres in a Bakken Shale play located in North Dakota. Archer's partner in this project is a large private operator with a proven track record of success in the Bakken Shale and drilling operations are expected to commence in late 2010.
Shareholders and new investors are welcome to contact Tribeca at 1-866-944-8674 to discuss Archer Petroleum.
ON BEHALF OF ARCHER PETROLEUM CORP.
Colin Bowkett, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.