STANLEY, ND — (Marketwire) — 03/21/12 — Luminart Corp. (PINKSHEETS: LUMP), the parent company of Black & Blue Water Service, LLC and B 3 Well Services, is moving its corporate office to Stanley, North Dakota to be more closely connected to its Bakken operations. Luminart is also gearing up to start its 100 unit man-camp initiative with potentially 400 additional units upon approval.
With virtually no housing available in many areas of North Dakota due to the boom in the oil industry and the massive influx of people as a result, there is a high demand for places to live. One of the land lease agreements that Luminart has secured is specifically for the purpose of building a man-camp to meet the needs of the work force. Each unit will generate an estimated $800 per month which means an estimated monthly income of $400,000 when all 500 units become fully operational.
Luminart President Burke Bentley commented, “The move from California to North Dakota was essential to the success of our operations there and will greatly improve our ability to support our North Dakota efforts. The man-camp is a key element in establishing a strong foundation in North Dakota. This will give Luminart the ability to provide affordable living arrangements for our employees and other hard working Americans who have also come to North Dakota to take advantage of this historic opportunity.”
Luminart Corp.–s subsidiary B 3 Well Services is focused on the expansion of contract hauling materials for infrastructure development in North Dakota, mining and processing materials for road building, and expansion of the base camps in the North Dakota operations, sales and marketing.
Led by a skilled and experienced management team, the timely entrance to this quickly developing opportunity in the Bakken oil reserves has positioned the company to create more value for its shareholders and secure a strategic position for increased market share in the future.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Luminart Corp. and their plans, products and related market potential. Forward-looking statements may be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Luminart Corp.–s filings with the Pink Sheets, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Luminart Corp. undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
For more information contact:
CFO
Tom Maher
Phone: (310)363-2368
EMAIL: