All State Properties Holdings, Inc. (OTC:ATPT) has announced that it is currently in negotiations for the acquisition of Oil and Gas leases in Oklahoma and Kansas. So far, after extensive research, the properties have been found to have met the criteria for the company’s future growth. The company anticipates the announcement of its first Letter of Intent to provide a period of due diligence later on this month. Further information about the acquisition and the several thousand acres of leases will be released with the signing of the Letter of Intent.
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All-State Properties Holding, Inc. conducts business formerly carried on by its predecessor partnership, All-State Properties L.P. (the Partnership). The Partnership merged with the Company on May 29, 2008. The Company acquired all of the assets and assumed all of the liabilities and obligations of the Partnership. The Company, together with its wholly owned subsidiary, Hubei Longdan (Delaware), Inc. (Longdan Delaware), is engaged in land development and the construction and sale of residential housing in various parts of the eastern United States and in Argentina.
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