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Microcap & Penny Stocks : NuTek, Oil Company, currently at 1
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To: James McKillop who wrote ()8/9/1997 11:35:00 AM
From: SunAge   of 95
 
Following is the last press release from the company:

NuTek - Well Logs Positive

SANTA ANA, Calif., May 29 /PRNewswire/ -- NuTek, Inc. (OTC BULLETIN BOARD:NUTK) disclosed today that it knows of no material reason for recent weakness in its stock price. Unusually rainy weather has hindered completion efforts on the Davidson 96-1 Limited partnership well drilled in the Big Foot field. The well shows good presence of hydrocarbons through core samples and a sophisticated logging suite conducted by Western Atlas. Logs also indicate numerous well re-entry opportunities exist in 24 additional wells owned in the Big Foot field. Additionally, the company plans to drill another well on this same acreage. Drilling on the second well will begin following completion of the first well.

The company will continue to pursue numerous acquisition opportunities which it has identified for purchase this calendar year. It is currently examining trading activity generated through 7 new market makers which have been trading NuTek stock throughout the first half of 1997.

I think the market makers got pissed by the comment from a BB company. Anyway, I think the company needs to update their investors by releasing another heads up press release.

Does anybody know if the company has a web site?
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