The company recently changed its name from Kit Karson Corporation, is planning a one for ten reverse split and is looking to participate in an oil well to be drilled in the Dead Sea. However, the thing that really excites me about this company is the President's first name: Hayseed. Gotta love that.
biz.yahoo.com
Wednesday July 7, 7:32 am Eastern Time
Company Press Release
Kit Karson Now Renamed Ness -- 'Miracle' -- Energy International, Inc.
WILLOW PARK, Texas--(BUSINESS WIRE)--July 7, 1999--Kit Karson Corporation of Willow Park, Texas, Symbol ''KTKC'' is pleased to report Friday, July 2, the name of the Corporation changed to Ness Energy International, Inc. and the new stock symbol ''NESS'' (OTC BB:NESS - news).
The Company is traded on the NASDAQ Electronic Bulletin Board.
The capitalization of the Company's stock is not effected by this name change. Each share of Kit Karson is equivalent to one share of Ness Energy International, Inc. No reverse stock split accompanies this name change. A 1 for 10 reverse stock split is planned to be discussed at the annual meeting to be held later this summer.
The name Ness in Hebrew means Miracle. The principle project of the Company is to participate in the funding and drilling of the deep oil test at the southwest end of the Dead Sea in Israel. This name change is a major step in placing the Company in a position to finalize the
financing necessary to meet this Corporate Objective.
Hayseed Stephens, President, just returned from Israel and reported the Israel Stock Market is excited about energy issues. Here are the current emerging reasons: 1) Gas discovered in the Mediterranean -- first test absolute open flowed 12 million cubic feet per day, second test absolute open flowed 30 million cubic feet per day; 2) Major British company acquires permit, 3) Two more wells to be drilled in the Mediterranean in August and September by Israeli company.
Joint Venture proposals were offered in Israel and are now being considered for participation in the Ness Israeli deep oil test, potentially the deepest oil well ever to be drilled in Israel.
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: 817/341-1477 (phone); 817/598-0440
(fax); nessenergy@compuserve.com (email address); www.nessenergy.com
(website).
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Contact:
Ness Energy International, Inc.
Donna Sassaman, 817/341-1477 |
