Webcast Alert: Energy & Engine Technology Corporation Announces First Revenues From Gas Gathering Operation; CEO Webcast Scheduled
PLANO, Texas, Jun 19, 2002 /PRNewswire-FirstCall via COMTEX/ -- Energy & Engine Technology Corporation (OTC Bulletin Board: EENT) announced today that the Company has received initial revenues from the operation of its gas gathering system for the first two months of the second quarter of 2002. Gross revenues for April were $1,637 and for May were $10,524.
The Company's gas gathering system is located in the Caddo Pine Island Field in Caddo Parish, Louisiana, which was discovered in 1905. A U.S. Department of Energy report states that there are 4.5 billion barrels representing almost 80% of the mineral resources of the Field still in the ground. The Company has connected approximately 300 of a potentially available 5000 wells (which can be tapped from the gas gathering system's existing lines). The gas gathered is casing head gas from oil wells, which would otherwise be vented into the atmosphere.
Will McAndrew, President and CEO of Energy & Engine Technology Corporation, said, "I am excited about the possibilities. In our first two months of full operation, we have increased our gross revenue over 500%, and I look forward to continued and sustainable growth. There are a tremendous number of different types of comparable opportunities in and around our gas gathering system."
The Company also announced that it has scheduled its first CEO Webcast with Tribe Communications, Inc. The broadcast will take place on Thursday, June 20, 2002, and will be available to the public no later than Monday, June 24, 2002. In the webcast, Mr. McAndrew will answer various questions about the status of the Company and its plans. The webcast will be available at www.eent.net .
Energy & Engine Technology Corporation www.eent.net 972-732-6360
SOURCE Energy & Engine Technology Corporation
CONTACT: Will McAndrew, Pres. and CEO, +1-972-732-6360, or will@eent.net , or Jolie Kahn, Gen. Counsel, +1-561-872-4027, or jolie@eent.net |
