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DIGITAL GAS FORMS SUBSIDIARIES TO OPERATE IN WESTERN CANADA
NEW YORK, Dec 7, 1999 /PRNewswire via COMTEX/ -- Digital Gas, Inc. (OTC
Bulletin Board: DIGG) today announced that Digital Gas Canada, Inc. has
been formed and formally registered as a corporation in Alberta,
Canada. Digital Gas Canada, a wholly owned subsidiary of Digital Gas,
has in turn formed Digital Gas Geosciences Group and True 8 Energy and
assigned 50% of the equity in these companies to the Canadian-based
employees, consultants and strategic partners that are working on
international projects for the parent company.
True 8 Energy plans to acquire and operate oil & gas properties in the
Western Canadian basin, which will then be either enhanced and/or
explored by Digital Gas Geosciences Group.
Initially, True 8 Energy plans to build cash flow and carried positions
from contract work to enhance, explore and operate prospective
properties for third parties in conjunction with Digital Gas
Geosciences Group. If True 8 Energy is successful in this business, it
will consider an Initial Public Offering to obtain additional financing
to accelerate its acquisition plan.
Over time, the plan calls for Digital Gas to utilize part of its
international operating income, if any, to further accelerate the
acquisition plan of True 8 Energy in Canada and, possibly, South and
Central America, and Mexico. In the United States, True 8 Energy will
joint venture with Digital Gas on properties it sources for the parent.
For further information, contact Robert Lynn, President at 214-691-3640
or at info@digitalgas.com
SOURCE Digital Gas, Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
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CONTACT: Robert Lynn, President of Digital Gas, 214-691-3640 or
info@digitalgas.com
(DIGG)
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