Savoy Energy Corp. Receives $10 Million in Funding

HOUSTON, Sept. 8  /PRNewswire-FirstCall/ -- Savoy Energy Corporation (OTC Bulletin Board: SNVP) announced today that it has finalized an agreement with Tangiers Investors, LP for a $10 Million equity line of credit.

"We are pleased to have established this line of credit. This financing will assist our company as we move forward with our recompletion programs, as well as our plans for future growth and expansion," stated Art Bertagnolli, CEO of Savoy Energy Corporation.

The financing will commence after the company's audits have been completed and within 30 days after the definitive financing documents are executed.

For a full report, please visit Savoy Energy's website: http://www.savoyenergycorp.com/

About Savoy Energy Corporation

Savoy Energy Corporation (OTC:SNVPOTC:-OTC:News) (BULLETIN BOARD: SNVP - News)  is an independent oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying abandoned oil and gas assets, which are then brought online through recompletion and work-over activities, a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its asset base and cash flow, while significantly reducing the cost of initial drilling, and takes away the risk of traditional exploration projects. Savoy Energy's financial structure allows it to minimize the high overhead of traditional E&P companies. (http://www.savoyenergycorp.com/)

Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance. 

DATASOURCE: Savoy Energy Corporation



CONTACT:  Savoy Energy Corporation Investor Relations e-media Direct,

Inc., 1-866-284-2835



Web Site:  http://www.savoyenergycorp.com/ 

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