Monday April 3, 4:50 pm Eastern Time
Company Press Release
SOURCE: ADAIR INTERNATIONAL OIL & GAS, INC.
ADAIR INTERNATIONAL OIL AND GAS, INC. (AIGI) Natural Gas Fired Power Plant Project Update
HOUSTON, April 3 /PRNewswire/ -- ``ADAIR INTERNATIONAL OIL AND GAS, INC. (OTC Bulletin Board: AIGI - news) has at this time a number of natural gas fired power plants under development and continues to pursue other locations for additional plants,' stated John W. Adair, Chairman.
All plants are planned where there are electrical grids and natural gas pipelines available for such plants.
Due to the permitting and licensing process, major plants and projects such as the ones ADAIR has under development can take longer than desired. In addition, ADAIR develops such plants with major companies and is under strict confidentiality agreements to abide by this criteria.
The 540 MW power plant in Southern California is progressing as planned and ADAIR will keep its shareholders informed as required by the S.E.C. as is appropriate. Additional information will be forthcoming as the projects materialize.
``This press release is a rebuttal to the misinformation as conveyed in the Dow Jones press release relating to various merchant plants under development in the United States by ADAIR,' stated John W. Adair.
ADAIR plans to be fully Nasdaq listed by mid-2000 and was recently listed on the Hamburg Exchange.
This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act that involves risk and uncertainties, including exploration, development, operational, marketing, and implementation risks, and other facts described from time to time in the company's publicly available SEC reports which could cause results to differ materiality.
SOURCE: ADAIR INTERNATIONAL OIL & GAS, INC.
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