Wednesday April 26, 5:59 am Eastern Time
Company Press Release
American Millennium Corporation, Inc. Announces New Open Tank Monitoring System
GOLDEN, Colo.--(Business Wire)--April 26, 2000--American Millennium Corporation, Inc. (OTCBB: AMCI - news) announced today that it has begun to deploy the ``SatAlarm(TM) STM,'' a new, inexpensive, and effective satellite-based communication system developed by the company for measuring and monitoring open pit tanks at newly developed methane gas reserves in northeastern Wyoming and southeastern Montana's Powder River Basin. The system technology has already been successfully field tested on gas wells in the San Juan Basin in New Mexico, according the company.
AMCI Chairman and Vice President of Business Development, Stephen F. Watwood said, ``Coal bed methane gas wells can produce water-based by-products held in open tanks adjacent to the well sites. These by-products range from fresh to salt water to a thick sludge and everything in between, making accurate level detection difficult. Typically, pressure gauges or costly radar-type sensors have been used to measure tank levels. The AMCI SatAlarm(TM) STM is an inexpensive and reliable solution to this common problem.''
Andrew F. Cauthen, President and CEO of AMCI, noted that as recently as 1997 there were only 269 producing coal bed methane gas wells in the Powder River Basin. ``According to known reserves, there is a potential for over 15,000 wells in that area alone. This is a prime opportunity for AMCI to direct a sales effort toward that market as well as others with this new and unique product. The SatAlarm(TM) STM is a practical and affordable alternative to current tank level monitoring performed manually or by relatively expensive monitoring equipment,'' he said.
AMCI Chief Technology Officer and Vice President of Engineering Bruce Bacon stated that the newly developed sensor package was designed specifically for monitoring mixed fluids of varying density in these tanks. When the sensor package is integrated with the current SatAlarm(TM) core, it allows monitoring of the tanks via a secure Internet website. ``We can now offer the industry a reliable device to measure these tank levels at a fraction of the cost of anything on the market today,'' he said.
Plans call for AMCI to aggressively market the SatAlarm(TM) STM to the rapidly emerging methane gas industry. According to published information, coal bed methane gas, known as CBM, is practical, abundant, clean-burning, and can be delivered directly into gas pipe lines without the need for major clean-up. Having been regarded in the past as a risk factor in coalmine explosions, CBM now accounts for approximately 5% of all natural gas production.
``We believe a strong and growing demand exists for the SatAlarm(TM) STM. The low cost and unique qualities of this satellite-based monitoring system can make it possible to capture significant numbers of customers with equipment sales, and create monthly revenues at the same time,'' Cauthen added.
AMCI is a provider of wireless and wire-line solutions for tracking mobile assets and remote monitoring of fixed assets through a network of Low-Earth-Orbit Satellites (LEOs), Geo-Stationary Satellites (GEOs), and Local Area Networks (LANs). To date, the company has hundreds of satellite communication systems in the field tracking, monitoring, and reporting data on oil wells, natural gas compressors, rail cars, and trucks. In addition to hardware sales, AMCI generates revenues from the airtime sales. AMCI is an applications service provider (ASP,) providing data access, tracking, and analysis packages for customers via the Internet.
This press release contains forward-looking statements that could involve risk, and uncertainties that could cause the company's actual results and experience to differ materially from anticipated results and expectations expressed herein. In particular, AMCI's plans may be revised, and its actual results may differ materially from that indicated by its current plans.
AMCI's web page address is amc-wireless.com.
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Contact:
American Millennium Corporation, Inc., Golden
Andrew F. Cauthen, President & CEO, 303/279-2002
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More Quotes and News: American Millennium Corp Inc (OTC BB:AMCI.OB - news)
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