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Oil climbs more than $1 as US reaches debt agreement

From: Riggs Eckelberry
Los Angeles, August 1, 2011

From: Riggs Eckelberry
Los Angeles, August 1, 2011

Good morning!

Debt crisis averted: oil climbs

Late yesterday, Congressional leaders reached an agreement on the U.S. debt — and oil immediately climbed more than a dollar a barrel. (Reuters)

It’s tough: good financial news only seems to push oil prices higher.

Now… what would happen if anyone, anywhere, could make fuel and chemicals at an affordable price — and without huge environmental penalties?

That’s algae.

Reverse split — the countdown

We expect our 1-for-30 reverse stock split to take effect this week.

At that point, a “D” will be added to our stock symbol. So, for a short time, we will trade as “OOILD”. After 30 days, the symbol will revert back to OOIL.

Many institutions can’t invest in stocks traded in pennies. Our new stock price will help solve that issue, and should expand our trading market.

This is not the uplisting!

This doesn’t mean that we will be on a senior U.S. exchange this week! This reverse is only the first step of a multi-month process much of it behind the scenes.

In the meantime, most of our news will be of a commercial and technical nature… as it should be.

Meanwhile, we greatly appreciate your strong votes of support over the past ten days, since we announced our move.

Have a great week!

Riggs and team

Riggs Eckelberry
President & CEO
OriginOil, Inc. (OOIL)

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Safe Harbor Statement:

Matters discussed in this update contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

 
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