Bill...any further updates on the plant that sounds like a burrito???
ADAIR could sure use the $4 million dollars annual revenues.
PR NewsWire Chimichagua Power Plant Update
---------------------------------------------------------------------
HOUSTON, Aug. 24 /PRNewswire/ -- Adair International Oil and Gas, Inc.
(OTC Bulletin Board: AIGI) has completed its preliminary engineering and feasibility for its electrical power generating facility in Colombia. The project is targeted for the economic development of the Cesar region in Colombia and is scheduled to utilize the natural gas from ADAIR'S Chimichagua
Exploration Concession.
The size of the plant is under evaluation at this time and could
eventually approach the 150 MW size depending upon the availability and testing of the daily volumes of natural gas from the Chimichagua Concession.
The initial size of the plant will be considerably smaller until the natural gas reserves are proven and additional wells drilled that are planned.
The plant is expected to generate at least $4 million USD in revenues annually during the first phase of operation. Adair plans to construct 10 miles of 110 KV transmission lines to connect to a local substation.
This news release contains forward-looking statements within the meaning of the securities Litigation Reform Act that involves risks and uncertainties, including exploration, development, operations, marketing, and implementation risks, and other factors described from time to time in the company's publicly available 10K report, which could cause results to alter materially.
SOURCE Adair International Oil and Gas, Inc.
-0- 08/24/98
/CONTACT: John Adair, CEO of Adair International Oil and Gas, Inc.,
713-621-8241/
/Web site: aigionline.com
(AIGI)
CO: Adair International Oil and Gas, Inc.
ST: Texas, Colombia
IN: OIL
SU: |
