NEW YORK, June 27, 2018 (GLOBE NEWSWIRE) -- Century Petroleum Corp. (OTC:CYPE) (“CYPE” or the “Company”) is announced today that it has appointed MaloneBailey, LLP to serve as its new independent public accounting firm and independent auditor, effective immediately. After conducting an extensive evaluation, the board of directors selected MaloneBailey, LLP (www.malone-bailey.com). Malone & Bailey, is a Houston-based accounting firm ranked among top audit firms in America.
The company reached a decision to engage the selected PCAOB qualified auditor as part of its commitment to provide investors and the public markets with increased transparency of company operations as well as in order to prepare for “up-listing,” a process which requires U.S. GAAP, PCAB-audited financial statements as a primary requirement. Malone & Bailey will be performing a two-year audit to bring the Company current with its financials as the Company seeks to become SEC compliant.
Erroll A. Booker, Chief Executive Officer of Century Petroleum, stated, “We are delighted with the expertise MaloneBailey brings to the table, and we believe that MaloneBailey’s in-depth capabilities are closely align with our increasing larger economic footprint and strategic growth plans.”
Century Petroleum Corp. officially is in the process of changing the name to Ibeto Cement International Corporation and has moved the state of domicile from Nevada to Florida, documents have been filed in Nevada to close that corporation and the Florida Corporation has been established under the new name. This is needed to strategically align with the new management and control partners moving forward. The Company is in the process of filing the corporate action form with FINRA of the proposed changes.
ABOUT CENTURY PETROLEUM CORP.
Century Petroleum Corp. is an oil and gas exploration and production company. The Company is engaged in the acquisition and exploration of oil and gas properties with a view to exploiting any oil and gas reserves it discovers. The Company has interests in the Thunder Stud Prospect, located in Calcasieu Parish, Louisiana; the Shadyside Farm Prospect, located in St. Mary Parish, Louisiana; the Alligator Bayou Prospect, located in Matagorda and Brazoria Counties, Texas, and the El Grande and Hickory Branch Prospects, located in Beauregard Parish, Louisiana.
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
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