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Microcap & Penny Stocks : Black Giant Oil Co (BGOC)

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To: Shell Searcher who wrote ()11/2/1999 8:18:00 PM
From: Shell Searcher   of 10
 
Friday October 22, 2:31 pm Eastern Time

Company Press Release

SOURCE: Black Giant Oil Company

BGOC in Negotiations for Merger

CISCO, Texas, Oct. 22 /PRNewswire/ -- Black Giant Oil Company (OTC Bulletin Board: BGOC - news) President, Ivan Webb, reports that negotiations are in progress for a merger/acquisition with
a private company. No definitive terms for an agreement have been reached therefore no formal news can be released at this time as to the identity of the merger candidate until a Letter of Intent has
been executed. Due diligence is in progress to verify the viability of this potential merger.

Black Giant recently became current in its filings with the SEC and has maintained its listing on the Electronic Bulletin Board. The recent deletion of non-reporting companies off of the Bulletin Board
has caused a surge of interest in full reporting public companies. Webb plans to take advantage of this interest to maximize the negotiation position of BGOC to benefit its shareholders.

This news release includes forward-looking statements that involve risks and uncertainties. The forward-looking statements in this release are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Actual results may differ materially, due to a variety of factors including, without limitation, the Company's ability to produce and market products
and/or services and other risks detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.

For additional information call Ivan Webb: 254-442-3968 (phone); 254-442-3843 (fax).

SOURCE: Black Giant Oil Company
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