Nevtah Capital Corp. (NTAH-NASD:OTCBB) entered into a milestone oil & gas
exploration and production agreement with Tower Oil, LLC of Nashville,
Tennessee in October 1997.
Nevtah's corporate strategy is to concentrate on advanced exploration
projects in North America and abroadwhich have the potential of being a
"company maker". In order for a junior oil & gas company like Nevtah to
find a large discovery on the North American continent, it was necessary
for the company to concentrate in areas that have significant reserve
potential but are relatively inactive. This strategy led Nevtah to
concentrate on oil and gas properties with development potential in the
States of Texas, Tennessee and Kentucky.
Nevtah is well positioned to become a leading junior oil and gas company in
the United States. At the present time Nevtah's undervalued proven oil and
gas reserves in the United States are currently being re-worked with
initial production flow rates expected to increase from current start
up-levels to 2000 barrels of oil per day (BOPD) by the third quarter of
fiscal 1998.
Implementation of the company's new advances in the Stripper Well Recovery
Technology could result in daily production rates from the Stripper Well
Operating Division of 10,000 plus barrels of oil per day (BOPD) in the
United States during fiscal 1999.
The Company's Natural Gas Division is currently focused on the completion
of its initial work program for gas production in reserves from very large
Miocene and Frio formations on Matagorda Island, which is located in the
Gulf of Mexico, northeast of Corpus Christi, Texas. The Matagorda area has
received considerable attention in recent months as a result of major
discoveries being announced by Shell, Amoco, Seagull and Enron of reserves
in excess of several trillion cubic feet of gas (TCFG).
Nevtah's International Division, has recently announced progress on its
Caspian Sea oil prospect. In a previous press release dated Aug. 6, 1997,
Nevtah announced that it had entered into a Joint Venture agreement to
acquire an 80% interest in an Oil & Gas play which includes a production
sharing arrangement on the development of the Siezen Monocline oil field on
the shores of the Caspian Sea. A memorandum of agreement is in place with
groups participating in the Joint Venture and the State Oil Company (SOCAR)
of the Azerbaijan Republic.
The Matagorda Island and Stripper Well Projects along with plans to
participate in other selected international high reserve petroleum projects
will compliment the agressive ongoing development of Nevtah's current oil &
gas production.
NTAH currently trades on the NASD Bulletin Board and has 14,765,000 shares
issued and outstanding. The estimated Float is approx. 2.5 million shares.
For further information contact the company at: 561.626.9901 or
visit our websites;
Nevtah Website - ntah.com
IFPDLS Patent - oit.doe.gov |
