NEOM news. (COMTEX) B: NeoMedia Says Loch Energy Has Contract with Cokinos Oil Compan
for Sale of First Truckloads of Oil from Its R.E. Bu
B: NeoMedia Says Loch Energy Has Contract with Cokinos Oil Company for Sale of F
rst Truckloads of Oil from Its R.E. Burt Lease Well
FT. MYERS, Fla. & HOUSTON, Jul 15, 2003 (BUSINESS WIRE) -- NeoMedia
Technologies, Inc. (OTCBB: NEOM), said today that Loch Energy, Inc., which it
plans to acquire, has contracted with the Cokinos Oil Company for the sale of
oil from one of its wells.
"Patrick E. Ashworth, Loch's CEO, has a contract with Cokinos for oil from
Loch's R.E. Burt lease," said Charles T. Jensen, NeoMedia's president and acting
COO.
Ashworth said "two to three truckloads, each representing 150 to 180 barrels
from Loch's storage tanks, will be hauled away by Cokinos in a few days."
Last week, Loch announced the anticipation of the sale (see "NeoMedia Says Loch
Energy's First Burt Lease Well 'Exceeds Expectations' with Oil Sales Ready to
Begin," Business Wire, July 9).
NeoMedia previously announced plans to acquire and merge with Loch (see
"NeoMedia Reaches Agreement in Principal to Acquire Loch Energy, Inc." Business
Wire, March 13, 2003), which owns mineral and lease rights to five properties
totaling approximately 130 acres. That announcement said evaluation and
estimates by oil specialists of Loch's position show proven reserves of some
7,707,247 barrels, and probable reserves of an additional 5,963,748 barrels,
more than 13.67 million barrels in all.
About NeoMedia Technologies
NeoMedia Technologies, Inc. (www.neom.com), is an innovator and international
leader in print-to-Internet and other technologies which make information faster
and easier to access, with expertise in homeland security and e-authentication
applications.
About Loch Energy, Inc.
Loch Energy, Inc., is a low-cost, environmentally-conscientious and safe
producer of oil and gas properties, and a strong advocate of creating an
environment in which the oil and gas industry, and related businesses, prosper
and grow through responsible development of Texas's natural resources.
This press release contains forward-looking statements within the meaning of
section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. With the exception of historical information contained
herein, the matters discussed in this press release involve risk and
uncertainties. Actual results could differ materially from those expressed in
any forward-looking statement
SOURCE: NeoMedia Technologies, Inc.
CONTACT: NeoMedia Technologies, Inc.
Charles T. Jensen, 239/337-3434
cjensen@neom.com
or
Loch Energy, Inc.
Patrick Ashworth, 281/548-0175
or
The Kaminer Group
David A. Kaminer, 914/684-1934
dkaminer@kamgrp.com
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