PureSpectrum, Inc. Finalizing Terms for Oil & Gas Joint Venture in Texas; Partners with OTCBB Company for Revenues in Q1 2012

PureSpectrum, Inc. (PSRU - OTC Pink) announces today that it is finalizing details on a Joint Venture with an OTCBB Oil & Gas Company with a 30 well re-entry drilling program in the state of Texas. The 30 wells are a workover of previously drilled, producing wells. This initiative marks Phase 1 of a larger, long-term initiative the two companies have agreed on as part of the overall terms. As well, the drilling program is already set up with the necessary infrastructure and equipment for immediate production. Phase 1 is expected to produce revenues for PSRU in the first quarter of 2012.

Final terms are under review by both parties and all involved anticipate signature before the holidays this year. PSRU CEO, Cedric Atkinson, states, "This is a momentous deal for PureSpectrum, Inc. and its investors. Though the deal is not yet finalized, I’m confident that a collectively beneficial agreement is at hand; one that will bring revenues almost immediately and one that will provide inherent growth for the long-term. Based on verbal agreement of terms, I expect we’ll be making an official announcement in the coming days.”

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