New release received via email.
Below is the text of a new email I received yesterday. I assume this is positive news. When is this stock going to start its upward trend? What's holding it back? Sounds like great technology to me!
I copied the latest email below, as follows:
Subject:
News Release
Date:
Wed, 09 Jul 1997 13:38:29 -0700
From:
Amalgamated Explorations <info@findoil.com>
To:
(Recipient list suppressed)
AMALGAMATED CONTRACTS TO IMPROVE OIL DETECTION TECHNOLOGY AND ENTERS INTO
FIRST INTERNATIONAL SERVICE AGREEMENT
Denver, CO., July 9, 1997-Amalgamated Explorations Inc, (OTC.BB:AXPL) has
entered into research and development program with Emdyne Inc. and
Multitech Consulting, both of Houston, Texas. Emdyne and Multitech will
design a new microprocessor for MSP Technologies (Amalgamated Explorations'
wholly owned subsidiary), to be used in electrotelluric survey equipment.
The new microprocessor will allow the survey operator to control the filter
and gain functions while testing. The goal is to achieve an increased
signal-to-noise ratio, thereby improving the survey's accuracy. Upgraded
chips will be incorporated into Amalgamated's existing electrotelluric
survey units. The project is estimated to require six months for completion.
MSP Technologies, a wholly-owned subsidiary of Amalgamated Explorations,
wishes to announce its first international service contract.
Electrotelluric surveys are underway in Australia and are expected to
continue through August 1997.
Amalgamated Explorations' patent-pending electrotelluric survey is the
latest in oil and gas exploration. The survey samples the natural low
frequency electromagnetic waves as they pass through the earth. The various
minerals that compose the earth's crust may act as electromagnetic
conductors or insulators. Oil and natural gas, being electromagnetic
insulators, produce anomalies in the radio waves. The resulting signal can
be amplified and recorded on an analog printout. An absence of signal
generally indicates a dry hole, while a strong signal shows a presence of
hydrocarbons. Amalgamated can then utilize a depth-to-frequency curve to
determine the approximate depth of the hydrocarbon deposits. The
electrotelluric survey scans to depths of 17,000 feet, can be completed in
just five minutes, and is totally non-invasive.
The electrotelluric survey can be carried by one man, particularly
advantageous in difficult terrain. When used in conjunction with 3-D
seismic surveys, the electrotelluric survey can help preserve the
environment by avoiding the drilling of dry holes.
To date, the electrotelluric survey has determined the location of
hydrocarbons in twenty wells prior to drilling. The survey can determine
the depth of the hydrocarbon formation within five percent. Amalgamated is
confident an absence of signal indicates a dry hole.
Due to the sensitivity of the electrotelluric equipment, absolute accuracy
cannot be guaranteed. Atmospheric conditions, solar radiations, power lines
and random radio frequencies may have an adverse effect on survey results.
The electrotelluric survey measures a randomly occurring electromagnetic
wave. Geophysical surveys that rely on randomly occurring fields must be
statistically analyzed for anomalies within the geophysical data.
Amalgamated believes such recurring anomalies will generally indicate a
commercially viable quantity of hydrocarbons.
For additional information, please visit the Amalgamated Explorations web
site at findoil.com.
Amalgamated Explorations
1645 Court Place, Suite 201
Denver, Colorado 80202. |
