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Gold/Mining/Energy : American International Petroleum Corp

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To: Harold who wrote (47)	5/19/1997 4:29:00 PM
From: Millennium	of 11888

American International Petroleum awarded $1,550,000 judgment against Gold Line Refining NEW YORK--(BUSINESS WIRE)--May 19, 1997-- Company to commence marketing asphalt products by mid-June American International Petroleum Corporation (NASDAQ:AIPN - news) today announced that a Louisiana court awarded the company $1,550,000 judgment against Gold Line Refining, Ltd. primarily for non-payment of lease fees. The company also announced that the erection of all asphalt tanks have been completed and that the asphalt polymerization unit has been received and installed. The company expects to commence marketing conventional and polymerized asphalt products on its own by mid-June 1997. The company is also seeking partners to replace Gold Line and is currently in discussions with parties with a view toward a joint venture to operate the Refinery exclusive of the asphalt operations. American International Petroleum Corporation is an international exploration and production company engaged in refining in Louisiana and the development of oil and gas properties in Kazakstan.

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