Amerigo Energy Announces Acquisition Update

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Due Diligence Period Nearing Completion.

Amerigo Energy, Inc. “The Company” (OTCBB: AGOE), today announced that it is nearing completion of its due diligence period pertaining to the acquisition of a new technology venture. “We have submitted a letter of intent to complete this transaction, and we are excited to receive the executed document. We are very pleased with the direction of the negotiations as it creates a ‘win-win’ both for our shareholders and with the target company. Our focus throughout this process has been to enhance valuation for our existing shareholders while creating growth opportunities for the new company,” said Jason Griffith of Amerigo Energy.

In addition to the completion of the acquisition, the company has been working with its new auditors to complete the filing of its annual reports.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995 Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward- looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward- looking statements.

For more information please contact:
Jason Griffith


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