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May 18, 2010 (FinancialWire) — Savoy Energy Corp. (OTCBB: SNVP) has closed a third round of funding transactions for 2010. With this additional funding, the company has further paid down aged debt obligations and has increased its working capital. The funding assists the company with expediting internal growth and enhances the company's financial position.

Savoy officials said they are currently identifying certain additional oil producing asset opportunities and remain confident in the continued access to capital from these current funding partners.

Arthur Bertagnolli, CEO Savoy Energy Corp. stated, "We are fortunate to have attracted the type of investor that recognizes our pro-active business model. We look forward to acquiring new assets."

Savoy Energy 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.

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